Frank Rimerman Advisors LLC Sells 254 Shares of Charter Communications, Inc. $CHTR

Frank Rimerman Advisors LLC lessened its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,086 shares of the company’s stock after selling 254 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Charter Communications were worth $853,000 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 acquired a new stake in Charter Communications in the first quarter valued at $25,000. Atlantic Union Bankshares Corp bought a new stake in shares of Charter Communications in the 2nd quarter valued at about $25,000. Salem Investment Counselors Inc. lifted its stake in Charter Communications by 2,033.3% in the 2nd 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 bought a new position in Charter Communications during the second quarter worth about $28,000. Finally, Strengthening Families & Communities LLC acquired a new position in Charter Communications during the first quarter worth approximately $33,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Down 0.6%

CHTR opened at $200.69 on Wednesday. The stock has a fifty day moving average of $249.29 and a 200-day moving average of $316.16. The company has a market capitalization of $25.97 billion, a P/E ratio of 5.50, a P/E/G ratio of 0.55 and a beta of 1.05. Charter Communications, Inc. has a fifty-two week low of $199.31 and a fifty-two week high of $437.06. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the prior year, the business posted $8.82 earnings per share. Charter Communications’s revenue was down .7% compared to the same quarter last year. On average, equities analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current year.

Analyst Ratings Changes

CHTR has been the subject of several research analyst reports. Bank of America reduced their target price on Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. BNP Paribas Exane reduced their price objective 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. Oppenheimer downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Royal Bank Of Canada cut their target price on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a research note on Monday, November 3rd. Finally, Citigroup decreased their price target on shares of Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $329.56.

Insider Activity at Charter Communications

In other news, Director David C. Merritt sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the transaction, the director directly owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

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.