Charter Communications, Inc. $CHTR Stake Cut by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,450 shares of the company’s stock after selling 3,978 shares during the period. New York State Teachers Retirement System owned about 0.06% of Charter Communications worth $20,757,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Charter Communications by 0.5% during the second quarter. Vanguard Group Inc. now owns 8,231,704 shares of the company’s stock worth $3,365,203,000 after acquiring an additional 39,944 shares during the period. State Street Corp grew its holdings in shares of Charter Communications by 3.2% during the second quarter. State Street Corp now owns 6,486,312 shares of the company’s stock valued at $2,651,669,000 after purchasing an additional 198,979 shares during the last quarter. Norges Bank bought a new position in shares of Charter Communications during the second quarter valued at approximately $1,145,387,000. Geode Capital Management LLC raised its position in shares of Charter Communications by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock worth $1,056,800,000 after purchasing an additional 41,206 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Charter Communications by 0.7% in the 2nd quarter. Invesco Ltd. now owns 1,848,370 shares of the company’s stock worth $755,632,000 after purchasing an additional 13,563 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David C. Merritt sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were 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 in the company, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a document filed 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 research analysts have issued reports on the company. Benchmark cut their target price on Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. The Goldman Sachs Group dropped their price objective on shares of Charter Communications from $215.00 to $210.00 and set a “sell” rating on the stock in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Monday, December 29th. Finally, Citigroup cut their price target on Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $321.13.

Charter Communications Stock Performance

Shares of NASDAQ CHTR opened at $206.67 on Tuesday. Charter Communications, Inc. has a 1 year low of $193.00 and a 1 year high of $437.06. The firm has a market cap of $26.75 billion, a P/E ratio of 5.73, a PEG ratio of 0.57 and a beta of 1.06. The stock has a fifty day moving average price of $206.69 and a two-hundred day moving average price of $262.72. The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.37 and a current ratio of 0.37.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a net margin of 9.29% and a return on equity of 25.55%. The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the company earned $8.82 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

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.