Citigroup Inc. Lowers Stake in Charter Communications, Inc. $CHTR

Citigroup Inc. cut its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 20.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,747 shares of the company’s stock after selling 66,921 shares during the period. Citigroup Inc. owned about 0.19% of Charter Communications worth $104,961,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CHTR. SouthState Corp bought a new stake in Charter Communications during the first quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new position in shares of Charter Communications during the 2nd quarter valued at about $25,000. Salem Investment Counselors Inc. lifted its position in Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Charter Communications in the second quarter worth approximately $28,000. Finally, Strengthening Families & Communities LLC bought a new position in Charter Communications during the first quarter valued at approximately $33,000. Institutional investors own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CHTR shares. UBS Group cut their price objective on shares of Charter Communications from $425.00 to $355.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. BNP Paribas Exane cut their price target on shares of Charter Communications from $255.00 to $200.00 and set an “underperform” rating for the company in a research report on Tuesday, November 4th. Bank of America reduced their price objective on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Oppenheimer lowered Charter Communications from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company dropped their target price on Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $329.56.

Insider Transactions at Charter Communications

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the transaction, the director owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Charter Communications Trading Down 0.6%

Shares of CHTR opened at $200.69 on Wednesday. The stock has a market capitalization of $25.97 billion, a P/E ratio of 5.50, a PEG ratio of 0.55 and a beta of 1.05. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The firm has a fifty day simple moving average of $249.29 and a two-hundred day simple moving average of $316.16. Charter Communications, Inc. has a twelve month low of $199.31 and a twelve month high of $437.06.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The firm had revenue of $13.67 billion during the quarter, compared to analysts’ expectations of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.82 EPS. On average, research analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Charter Communications Profile

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.