Geode Capital Management LLC Lowers Stock Holdings in Charter Communications, Inc. $CHTR

Geode Capital Management LLC lowered its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,432,662 shares of the company’s stock after selling 80,159 shares during the period. Geode Capital Management LLC’s holdings in Charter Communications were worth $506,090,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. Caitlin John LLC purchased a new position in Charter Communications during the third quarter worth approximately $41,000. Rakuten Securities Inc. boosted its position 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 in the last quarter. Global Retirement Partners LLC boosted its position in Charter Communications by 29.3% during the fourth quarter. Global Retirement Partners LLC now owns 357 shares of the company’s stock worth $75,000 after purchasing an additional 81 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Charter Communications by 100.7% during the third quarter. Brown Brothers Harriman & Co. now owns 291 shares of the company’s stock valued at $80,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Insider Transactions at Charter Communications

In related news, CEO Christopher L. Winfrey purchased 3,468 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $172.23 per share, with a total value of $597,293.64. Following the completion of the acquisition, the chief executive officer owned 74,409 shares in the company, valued at $12,815,462.07. This trade represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Rutledge sold 18,200 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $583,057.92. This represents a 82.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have acquired 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is currently owned by company insiders.

Charter Communications Price Performance

Shares of Charter Communications stock opened at $144.05 on Monday. The business has a 50 day simple moving average of $189.60 and a two-hundred day simple moving average of $203.86. Charter Communications, Inc. has a 12 month low of $136.63 and a 12 month high of $422.29. The stock has a market capitalization of $17.72 billion, a P/E ratio of 3.89, a PEG ratio of 0.25 and a beta of 0.72. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CHTR. Sanford C. Bernstein reissued a “market perform” rating and set a $210.00 target price on shares of Charter Communications in a report on Tuesday, May 26th. BNP Paribas Exane reduced their target price on Charter Communications from $160.00 to $150.00 and set an “underperform” rating for the company in a report on Tuesday, February 24th. Williams Trading set a $437.00 target price on Charter Communications in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. began coverage on Charter Communications in a report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $290.38.

Charter Communications Company 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.