Capital Group Private Client Services Inc. Sells 22,744 Shares of Charter Communications, Inc. $CHTR

Capital Group Private Client Services Inc. lowered its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 90.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,277 shares of the company’s stock after selling 22,744 shares during the period. Capital Group Private Client Services Inc.’s holdings in Charter Communications were worth $475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHTR. Norges Bank bought a new stake in shares of Charter Communications during the 4th quarter worth approximately $555,383,000. First Eagle Investment Management LLC raised its stake in shares of Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after purchasing an additional 1,617,148 shares in the last quarter. State Street Corp raised 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 in the last quarter. Capital Research Global Investors bought a new stake in shares of Charter Communications during the 3rd quarter worth approximately $327,179,000. Finally, Vanguard Group Inc. raised its stake in Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after acquiring an additional 1,130,648 shares during the period. Institutional investors own 81.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CHTR. Benchmark dropped their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein restated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research note on Tuesday, May 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Friday, March 27th. New Street Research dropped their price target on Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. began coverage on Charter Communications in a research note on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price target on the stock. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $290.38.

Charter Communications Price Performance

CHTR stock opened at $132.12 on Monday. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $16.25 billion, a price-to-earnings ratio of 3.57, a PEG ratio of 0.23 and a beta of 0.72. The business’s fifty day moving average price is $181.51 and its two-hundred day moving average price is $201.33. Charter Communications, Inc. has a fifty-two week low of $126.70 and a fifty-two week high of $422.29.

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

Insider Activity at Charter Communications

In related news, Director Balan Nair bought 1,000 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $175.46 per share, with a total value of $175,460.00. Following the acquisition, the director owned 12,029 shares in the company, valued at $2,110,608.34. This trade represents a 9.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Rutledge sold 18,200 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total value of $2,674,308.00. Following the completion of the sale, the director directly owned 3,968 shares in the company, valued at $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 20,125 shares of company stock worth $3,167,116 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Charter Communications Profile

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.