Handelsbanken Fonder AB Decreases Stake in Charter Communications, Inc. $CHTR

Handelsbanken Fonder AB cut its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 26.1% during the second quarter, HoldingsChannel.com reports. The fund owned 16,005 shares of the company’s stock after selling 5,654 shares during the period. Handelsbanken Fonder AB’s holdings in Charter Communications were worth $2,276,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CHTR. AQR Capital Management LLC boosted its holdings in shares of Charter Communications by 129.1% during the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after purchasing an additional 6,691 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Charter Communications by 16.3% during the first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after buying an additional 128 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Charter Communications by 48.1% during the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock worth $493,000 after buying an additional 435 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after buying an additional 55 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, Director Thomas Rutledge sold 18,200 shares of Charter Communications stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the sale, the director directly owned 3,968 shares in the company, valued at $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Charter Communications Price Performance

NASDAQ:CHTR opened at $154.27 on Monday. Charter Communications, Inc. has a 52 week low of $111.55 and a 52 week high of $285.82. The stock’s fifty day moving average is $138.29 and its two-hundred day moving average is $178.67. The company has a market capitalization of $18.40 billion, a P/E ratio of 4.01, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data 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 return on equity of 23.71% and a net margin of 9.05%.The firm had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period last year, the company earned $9.18 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities analysts expect that Charter Communications, Inc. will post 42.72 EPS for the current year.

Wall Street Analyst Weigh In

CHTR has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $150.00 target price on shares of Charter Communications in a research note on Monday, July 27th. The Goldman Sachs Group lowered their price target on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research report on Thursday, July 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. TD Cowen cut their price objective on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Finally, Freedom Capital raised shares of Charter Communications to a “hold” rating in a research note on Friday, June 12th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $226.88.

Charter Communications 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.