Bank of New York Mellon Corp Sells 21,685 Shares of Charter Communications, Inc. $CHTR

Bank of New York Mellon Corp reduced its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 517,464 shares of the company’s stock after selling 21,685 shares during the quarter. Bank of New York Mellon Corp owned about 0.42% of Charter Communications worth $111,710,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CHTR. Capital Research Global Investors lifted its holdings in shares of Charter Communications by 304.9% in the 4th 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 increased its stake in Charter Communications by 23.7% during the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares in the last quarter. Norges Bank acquired a new position in Charter Communications during the fourth quarter worth $555,383,000. Voyager Global Management LP raised its holdings in Charter Communications by 1,380.0% during the fourth quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after buying an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of 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 valued at $619,885,000 after buying an additional 1,617,148 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHTR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a report on Monday, April 27th. Wells Fargo & Company dropped their price target on shares of Charter Communications from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 7th. Barclays cut their price target on Charter Communications from $200.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Zacks Research downgraded Charter Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, Bank of America dropped their target price on Charter Communications from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Charter Communications has an average rating of “Reduce” and an average price target of $249.12.

Charter Communications Stock Down 1.7%

CHTR opened at $129.16 on Tuesday. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The company’s 50-day moving average is $137.47 and its 200 day moving average is $186.15. Charter Communications, Inc. has a fifty-two week low of $124.05 and a fifty-two week high of $402.15. The firm has a market capitalization of $15.89 billion, a P/E ratio of 3.49, a PEG ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $8.42 earnings per share. Research analysts expect that Charter Communications, Inc. will post 41.47 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In other news, Director Thomas Rutledge sold 69,633 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the transaction, the director directly owned 3,968 shares of the company’s stock, valued at $573,177.60. This represents a 94.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Wade Davis purchased 5,728 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the acquisition, the director directly owned 6,925 shares of the company’s stock, valued at $1,203,011. This trade represents a 478.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by insiders.

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.