Capital International Investors Sells 6,511,392 Shares of Charter Communications, Inc. $CHTR

Capital International Investors lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 71.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,625,889 shares of the company’s stock after selling 6,511,392 shares during the period. Capital International Investors’ holdings in Charter Communications were worth $548,155,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CHTR. Norges Bank bought a new position in shares of Charter Communications in the 4th quarter worth approximately $555,383,000. First Eagle Investment Management LLC lifted its stake in shares of 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 worth $619,885,000 after purchasing an additional 1,617,148 shares during the period. State Street Corp lifted its stake in shares of Charter Communications by 22.7% in 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 bought a new position in shares of Charter Communications in the 3rd quarter worth approximately $327,179,000. Finally, Vanguard Group Inc. lifted its stake in shares of Charter Communications by 13.7% in the 3rd 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 period. Institutional investors own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Charter Communications in a research note on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price objective on the stock. Zacks Research upgraded shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Benchmark decreased their target price on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. New Street Research decreased their target price on shares of 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, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $290.38.

Charter Communications Price Performance

NASDAQ CHTR opened at $132.12 on Monday. Charter Communications, Inc. has a 12 month low of $126.70 and a 12 month high of $422.29. The stock has a market cap 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 company’s 50 day moving average is $181.51 and its two-hundred day moving average is $201.33. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56.

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

Insider Activity

In related news, Director Mauricio Ramos acquired 9,929 shares of Charter Communications stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the transaction, the director directly owned 19,309 shares in the company, valued at approximately $2,721,217.37. This represents a 105.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher L. Winfrey acquired 3,468 shares of Charter Communications stock in a transaction dated Tuesday, April 28th. The shares were bought at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the transaction, the chief executive officer owned 74,409 shares of the company’s stock, valued at approximately $12,815,462.07. The trade was a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 20,125 shares of company stock valued at $3,167,116. Company insiders own 1.10% of the company’s stock.

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.