California Public Employees Retirement System Reduces Position in Charter Communications, Inc. $CHTR

California Public Employees Retirement System trimmed its position in Charter Communications, Inc. (NASDAQ:CHTR) by 59.1% during the first quarter, Holdings Channel.com reports. The firm owned 116,274 shares of the company’s stock after selling 167,782 shares during the period. California Public Employees Retirement System’s holdings in Charter Communications were worth $25,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares in the last quarter. Quarry LP boosted its position in shares of Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Charter Communications in the 4th quarter valued at about $25,000. DV Equities LLC acquired a new stake in shares of Charter Communications during the 4th quarter worth about $25,000. Finally, Rakuten Securities Inc. lifted its stake in Charter Communications by 535.0% during the second quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock worth $52,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Price Performance

Shares of NASDAQ CHTR opened at $129.22 on Thursday. The stock has a fifty day moving average price of $136.79 and a 200 day moving average price of $185.02. Charter Communications, Inc. has a 1-year low of $124.05 and a 1-year high of $402.15. 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 company has a market cap of $15.89 billion, a PE ratio of 3.49, a P/E/G ratio of 0.23 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.42 EPS. Sell-side analysts forecast that Charter Communications, Inc. will post 41.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CHTR shares. Barclays cut their price objective on shares of Charter Communications from $200.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Zacks Research downgraded shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Citigroup cut their price target on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. New Street Research decreased their price objective on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $249.12.

Insider Buying and Selling

In other Charter Communications news, Director Thomas Rutledge sold 18,200 shares of Charter Communications stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the sale, the director owned 3,968 shares of the company’s stock, valued at approximately $583,057.92. The trade was a 82.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wade Davis bought 5,728 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average cost of $173.72 per share, with a total value of $995,068.16. Following the completion of the purchase, the director owned 6,925 shares in the company, valued at approximately $1,203,011. This represents a 478.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 20,125 shares of company stock worth $3,167,116 in the last three months. Company insiders own 1.10% of the company’s stock.

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.