Triple Frond Partners LLC Lowers Stock Position in Charter Communications, Inc. $CHTR

Triple Frond Partners LLC lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,725 shares of the company’s stock after selling 6,755 shares during the quarter. Charter Communications accounts for about 3.3% of Triple Frond Partners LLC’s holdings, making the stock its 12th biggest position. Triple Frond Partners LLC’s holdings in Charter Communications were worth $32,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in Charter Communications by 141.0% in the 1st 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. Rakuten Securities Inc. lifted its stake in Charter Communications by 535.0% in the 2nd quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock valued at $52,000 after buying an additional 107 shares in the last quarter. Caitlin John LLC purchased a new stake in Charter Communications in the 3rd quarter valued at approximately $41,000. Manchester Capital Management LLC lifted its stake in Charter Communications by 1,600.0% in the 4th quarter. Manchester Capital Management LLC now owns 187 shares of the company’s stock valued at $39,000 after buying an additional 176 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in Charter Communications in the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CHTR shares. Citigroup reduced their target price on Charter Communications from $290.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada cut their price target on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a report on Tuesday, May 26th. JPMorgan Chase & Co. initiated coverage on Charter Communications in a report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price target for the company. Finally, New Street Research cut their price target on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of “Reduce” and an average target price of $290.38.

Charter Communications Trading Up 4.8%

Shares of CHTR opened at $145.82 on Friday. The stock has a fifty day moving average of $173.50 and a two-hundred day moving average of $199.21. 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 company has a market capitalization of $17.93 billion, a PE ratio of 3.94, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71. Charter Communications, Inc. has a fifty-two week low of $126.70 and a fifty-two week high of $422.29.

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

Insider Buying and Selling at Charter Communications

In other news, Director Mauricio Ramos acquired 9,929 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wade Davis acquired 5,728 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average price of $173.72 per share, with a total value of $995,068.16. Following the completion of the acquisition, the director owned 6,925 shares in the company, valued at approximately $1,203,011. The trade was a 478.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is currently owned by company insiders.

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.