New York State Common Retirement Fund Reduces Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

New York State Common Retirement Fund cut its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,046 shares of the company’s stock after selling 14,468 shares during the period. New York State Common Retirement Fund owned 0.09% of Charter Communications worth $54,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CHTR. Parnassus Investments LLC bought a new stake in shares of Charter Communications during the third quarter valued at approximately $508,684,000. Pzena Investment Management LLC lifted its stake in Charter Communications by 21.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,459,148 shares of the company’s stock worth $641,762,000 after purchasing an additional 253,324 shares in the last quarter. Allen Investment Management LLC lifted its stake in Charter Communications by 25.4% in the 3rd quarter. Allen Investment Management LLC now owns 873,714 shares of the company’s stock worth $384,277,000 after purchasing an additional 177,224 shares in the last quarter. Morgan Stanley increased its holdings in shares of Charter Communications by 15.8% in the 3rd quarter. Morgan Stanley now owns 1,186,738 shares of the company’s stock worth $521,952,000 after buying an additional 161,830 shares during the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Charter Communications by 671.5% during the 3rd quarter. Quadrature Capital Ltd now owns 140,296 shares of the company’s stock valued at $61,755,000 after purchasing an additional 122,110 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHTR has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, March 18th. JPMorgan Chase & Co. cut their price objective on shares of Charter Communications from $370.00 to $335.00 and set a “neutral” rating for the company in a report on Monday, April 1st. Bank of America cut their target price on shares of Charter Communications from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. UBS Group lowered their price target on shares of Charter Communications from $360.00 to $325.00 and set a “neutral” rating on the stock in a research report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charter Communications from $375.00 to $320.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Charter Communications has an average rating of “Hold” and an average price target of $380.80.

Charter Communications Price Performance

NASDAQ CHTR opened at $266.31 on Wednesday. The company has a market cap of $38.68 billion, a PE ratio of 8.87, a PEG ratio of 0.46 and a beta of 0.96. The stock’s 50-day moving average price is $283.08 and its two-hundred day moving average price is $350.67. Charter Communications, Inc. has a 1 year low of $254.31 and a 1 year high of $458.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 6.51.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, February 2nd. The company reported $7.07 EPS for the quarter, missing analysts’ consensus estimates of $8.76 by ($1.69). Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. The firm had revenue of $13.71 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the previous year, the company posted $7.69 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts predict that Charter Communications, Inc. will post 32.38 EPS for the current year.

About Charter Communications

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.