Bank of New York Mellon Corp Trims Stock Holdings in Charter Communications, Inc. $CHTR

Bank of New York Mellon Corp trimmed its position in Charter Communications, Inc. (NASDAQ:CHTR) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 539,149 shares of the company’s stock after selling 31,064 shares during the period. Bank of New York Mellon Corp’s holdings in Charter Communications were worth $112,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Charter Communications during the fourth quarter worth approximately $555,383,000. First Eagle Investment Management LLC raised its holdings in Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after acquiring an additional 1,617,148 shares during the last quarter. State Street Corp lifted its stake in shares of Charter Communications by 22.7% during the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after purchasing an additional 1,475,383 shares during the period. Capital Research Global Investors purchased a new position in shares of Charter Communications during the 3rd quarter worth $327,179,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Charter Communications by 13.7% during the third quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock worth $2,575,630,000 after purchasing an additional 1,130,648 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BNP Paribas Exane reduced their target price on Charter Communications from $160.00 to $150.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 24th. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Citigroup decreased their price target on shares of Charter Communications from $290.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. initiated coverage on Charter Communications in a research note on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price target for the company. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $290.38.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $132.12 on Monday. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 3.57, a price-to-earnings-growth ratio of 0.23 and a beta of 0.72. The company has a 50 day moving average of $181.51 and a two-hundred day moving average of $201.33. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 52-week low of $126.70 and a 52-week high of $422.29.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the business posted $8.42 earnings per share. Charter Communications’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, analysts forecast that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey bought 3,468 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $172.23 per share, with a total value of $597,293.64. Following the transaction, the chief executive officer directly owned 74,409 shares in the company, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Balan Nair bought 1,000 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $175.46 per share, with a total value of $175,460.00. Following the completion of the purchase, the director owned 12,029 shares in the company, valued at approximately $2,110,608.34. The trade was a 9.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 20,125 shares of company stock valued at $3,167,116 in the last three months. 1.10% of the stock is currently owned by company insiders.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.