State Board of Administration of Florida Retirement System Decreases Stake in Charter Communications, Inc. $CHTR

State Board of Administration of Florida Retirement System trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,537 shares of the company’s stock after selling 848 shares during the period. State Board of Administration of Florida Retirement System owned about 0.06% of Charter Communications worth $34,968,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CHTR. Korea Investment CORP lifted its position in shares of Charter Communications by 12.0% during the 2nd quarter. Korea Investment CORP now owns 74,512 shares of the company’s stock worth $30,461,000 after purchasing an additional 7,972 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Charter Communications during the 2nd quarter worth about $221,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Charter Communications during the 2nd quarter worth about $86,000. Employees Retirement System of Texas acquired a new position in shares of Charter Communications during the 2nd quarter worth about $306,000. Finally, Choreo LLC increased its holdings in shares of Charter Communications by 5.3% in the 2nd quarter. Choreo LLC now owns 5,164 shares of the company’s stock valued at $2,111,000 after acquiring an additional 261 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CHTR shares. KeyCorp reaffirmed a “sector weight” rating on shares of Charter Communications in a report on Monday, November 3rd. Royal Bank Of Canada dropped their price target on Charter Communications from $325.00 to $265.00 and set a “sector perform” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company reduced their price objective on Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Oppenheimer cut shares of Charter Communications from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group started coverage on shares of Charter Communications in a research report on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $329.56.

Charter Communications Stock Performance

Shares of CHTR opened at $198.95 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a 52-week low of $193.00 and a 52-week high of $437.06. The company has a 50-day simple moving average of $239.00 and a 200-day simple moving average of $305.35. The company has a market capitalization of $25.75 billion, a PE ratio of 5.45, a P/E/G ratio of 0.55 and a beta of 1.04.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.32). The company had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.82 earnings per share. Equities research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In related news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the sale, the director owned 10,146 shares in the company, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.