Swiss National Bank Sells 23,400 Shares of Charter Communications, Inc. $CHTR

Swiss National Bank reduced its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 8.4% in the 3rd quarter, Holdings Channel reports. The firm owned 256,016 shares of the company’s stock after selling 23,400 shares during the period. Swiss National Bank’s holdings in Charter Communications were worth $70,431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Charter Communications by 13.7% during the third quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock worth $2,575,630,000 after purchasing an additional 1,130,648 shares during the period. State Street Corp boosted its stake in Charter Communications by 3.2% during the second quarter. State Street Corp now owns 6,486,312 shares of the company’s stock worth $2,651,669,000 after acquiring an additional 198,979 shares in the last quarter. Norges Bank acquired a new position in Charter Communications during the 2nd quarter worth approximately $1,145,387,000. Geode Capital Management LLC grew its position in Charter Communications by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock valued at $1,056,800,000 after purchasing an additional 41,206 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Charter Communications by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company’s stock valued at $629,498,000 after acquiring an additional 42,499 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Price Performance

NASDAQ:CHTR opened at $224.36 on Thursday. The business’s 50-day simple moving average is $216.34 and its two-hundred day simple moving average is $229.34. Charter Communications, Inc. has a 52 week low of $180.38 and a 52 week high of $437.06. The stock has a market cap of $28.41 billion, a PE ratio of 6.18, a P/E/G ratio of 0.35 and a beta of 1.02. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 4.65.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.10 EPS. As a group, analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHTR. Sanford C. Bernstein set a $220.00 price target on shares of Charter Communications in a report on Wednesday, January 28th. Wells Fargo & Company upped their target price on Charter Communications from $180.00 to $200.00 and gave the stock an “underweight” rating in a research note on Monday, February 2nd. Zacks Research upgraded Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Benchmark raised their price objective on Charter Communications from $425.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Williams Trading set a $437.00 target price on Charter Communications in a research note on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $335.11.

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.