Charter Communications, Inc. $CHTR Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 1.0% in the second quarter, Holdings Channel reports. The institutional investor owned 85,537 shares of the company’s stock after selling 848 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Charter Communications were worth $34,968,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in shares of Charter Communications in the 1st quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in Charter Communications in the second quarter worth $25,000. Salem Investment Counselors Inc. increased its stake in Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Charter Communications during the second quarter worth $28,000. Finally, Heritage Wealth Advisors bought a new position in shares of Charter Communications in the 2nd quarter worth about $29,000. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Trading Down 0.4%

Shares of CHTR opened at $198.95 on Friday. The business’s 50-day moving average price is $239.00 and its 200 day moving average price is $305.35. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The stock has a market capitalization of $25.75 billion, a P/E ratio of 5.45, a P/E/G ratio of 0.55 and a beta of 1.04. Charter Communications, Inc. has a 1-year low of $193.00 and a 1-year high of $437.06.

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

Insider Activity

In other news, Director David C. Merritt sold 1,200 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the transaction, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a report on Monday, November 3rd. Royal Bank Of Canada cut their price target on Charter Communications from $325.00 to $265.00 and set a “sector perform” rating on the stock in a report on Monday, November 3rd. Benchmark reduced their price objective on Charter Communications from $475.00 to $425.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Barclays dropped their target price on Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Finally, Bank of America lowered their price target on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Charter Communications presently has a consensus rating of “Reduce” and an average target price of $329.56.

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.