Charter Communications, Inc. $CHTR Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 520,380 shares of the company’s stock after selling 15,259 shares during the quarter. Legal & General Group Plc’s holdings in Charter Communications were worth $108,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after acquiring an additional 55 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Charter Communications by 535.0% during the 2nd quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock worth $52,000 after acquiring an additional 107 shares during the period. Caitlin John LLC purchased a new position in shares of Charter Communications during the 3rd quarter worth about $41,000. MUFG Securities EMEA plc purchased a new position in shares of Charter Communications during the 2nd quarter worth about $116,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Charter Communications by 100.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 291 shares of the company’s stock worth $80,000 after acquiring an additional 146 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Trading Up 0.1%

NASDAQ CHTR opened at $147.26 on Friday. Charter Communications, Inc. has a one year low of $136.63 and a one year high of $422.29. The company’s 50 day moving average price is $190.90 and its 200 day moving average price is $204.33. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of 3.98, a PEG ratio of 0.25 and a beta of 0.76.

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 business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the previous year, the business posted $8.42 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts predict that Charter Communications, Inc. will post 43 EPS for the current year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director Wade Davis purchased 5,728 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the acquisition, the director owned 6,925 shares of the company’s stock, valued at approximately $1,203,011. This represents a 478.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Rutledge sold 69,633 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the completion of the transaction, the director owned 3,968 shares in the company, valued at $573,177.60. The trade was a 94.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 20,125 shares of company stock valued at $3,167,116 in the last three months. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CHTR shares. Wells Fargo & Company increased their price objective on shares of Charter Communications from $180.00 to $200.00 and gave the stock an “underweight” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Friday, March 27th. Royal Bank Of Canada lowered their price target on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Benchmark lowered their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. assumed coverage on Charter Communications in a research report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price target for the company. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $290.38.

About Charter Communications

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.