Charter Communications (NASDAQ:CHTR) Trading Down 4.2% – Time to Sell?

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price fell 4.2% during trading on Wednesday . The stock traded as low as $151.06 and last traded at $151.0040. Approximately 65,857 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,733,582 shares. The stock had previously closed at $157.69.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHTR. Zacks Research upgraded Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Bank of America restated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. JPMorgan Chase & Co. decreased their price target on shares of Charter Communications from $200.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Wells Fargo & Company dropped their price objective on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, July 27th. Finally, The Goldman Sachs Group reduced their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research report on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $226.88.

Charter Communications Price Performance

The firm has a market cap of $18.67 billion, a price-to-earnings ratio of 4.06, a P/E/G ratio of 0.25 and a beta of 0.70. The business’s 50-day simple moving average is $137.84 and its two-hundred day simple moving average is $178.95. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter in the previous year, the company earned $9.18 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts expect that Charter Communications, Inc. will post 42.72 EPS for the current fiscal year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director Thomas Rutledge sold 69,633 shares of the company’s stock in a transaction 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 sale, the director owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. This represents a 94.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charter Communications

Several institutional investors and hedge funds have recently made changes to their positions in CHTR. Capital Research Global Investors increased its holdings in Charter Communications by 304.9% in the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after purchasing an additional 3,626,135 shares in the last quarter. Dodge & Cox grew its position in shares of Charter Communications by 23.7% during the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after buying an additional 2,801,671 shares during the period. Norges Bank bought a new stake in shares of Charter Communications in the 4th quarter valued at $555,383,000. Voyager Global Management LP lifted its position in shares of Charter Communications by 1,380.0% during the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after acquiring an additional 1,725,000 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in Charter Communications by 119.6% in the fourth 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. Institutional investors own 81.76% 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.