Envestnet Asset Management Inc. Lowers Stock Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Envestnet Asset Management Inc. lowered its holdings in Charter Communications, Inc. (NASDAQ:CHTR – Get Rating) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,600 shares of the company’s stock after selling 5,751 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Charter Communications were worth $5,629,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CHTR. CI Investments Inc. raised its stake in shares of Charter Communications by 1,244.7% during the 3rd quarter. CI Investments Inc. now owns 1,533 shares of the company’s stock worth $465,000 after acquiring an additional 1,419 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Charter Communications in the 3rd quarter valued at $524,000. Aviva PLC boosted its holdings in shares of Charter Communications by 16.7% in the 3rd quarter. Aviva PLC now owns 32,814 shares of the company’s stock valued at $9,954,000 after acquiring an additional 4,697 shares during the last quarter. Keybank National Association OH boosted its holdings in Charter Communications by 12.3% during the fourth quarter. Keybank National Association OH now owns 2,535 shares of the company’s stock worth $860,000 after buying an additional 278 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Charter Communications by 647.9% during the third quarter. Canada Pension Plan Investment Board now owns 4,891 shares of the company’s stock worth $1,484,000 after buying an additional 4,237 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

Insider Activity at Charter Communications

In other Charter Communications news, Chairman Thomas Rutledge sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $383.64, for a total transaction of $11,509,200.00. Following the sale, the chairman now directly owns 17,493 shares of the company’s stock, valued at approximately $6,711,014.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CHTR shares. Bank of America lifted their target price on shares of Charter Communications from $405.00 to $425.00 in a research report on Monday, May 1st. StockNews.com initiated coverage on shares of Charter Communications in a report on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their price objective on shares of Charter Communications from $340.00 to $410.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. TD Securities lowered their price target on shares of Charter Communications from $610.00 to $585.00 and set a “buy” rating for the company in a report on Monday, January 30th. Finally, Morgan Stanley lowered their price target on shares of Charter Communications from $460.00 to $420.00 and set an “equal weight” rating for the company in a report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $482.43.

Charter Communications Stock Down 1.1 %

Shares of Charter Communications stock opened at $338.09 on Friday. The company has a debt-to-equity ratio of 7.44, a quick ratio of 0.33 and a current ratio of 0.33. Charter Communications, Inc. has a one year low of $297.66 and a one year high of $515.66. The company has a market cap of $51.61 billion, a P/E ratio of 11.08, a PEG ratio of 0.48 and a beta of 1.10. The firm has a fifty day moving average of $346.47 and a two-hundred day moving average of $363.53.

Charter Communications (NASDAQ:CHTR – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The company reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.56). The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.61 billion. Charter Communications had a return on equity of 37.99% and a net margin of 8.95%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $6.90 earnings per share. On average, analysts forecast that Charter Communications, Inc. will post 30.74 earnings per share for the current year.

About Charter Communications

(Get Rating)

Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.