Primecap Management Co. CA Has $58.66 Million Holdings in Charter Communications, Inc. $CHTR

Primecap Management Co. CA lessened its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 38.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,490 shares of the company’s stock after selling 90,260 shares during the period. Primecap Management Co. CA’s holdings in Charter Communications were worth $58,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CHTR. SouthState Corp acquired a new position in shares of Charter Communications during the first quarter worth about $25,000. Atlantic Union Bankshares Corp bought a new stake in Charter Communications in the 2nd quarter valued at approximately $25,000. Salem Investment Counselors Inc. boosted its position in Charter Communications by 2,033.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Charter Communications during the 2nd quarter worth approximately $28,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of Charter Communications in the second quarter valued at approximately $29,000. 81.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charter Communications

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CHTR shares. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a research report on Monday, November 3rd. Royal Bank Of Canada cut their price target on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Monday, November 3rd. BNP Paribas Exane decreased their price objective on Charter Communications from $255.00 to $200.00 and set an “underperform” rating for the company in a report on Tuesday, November 4th. UBS Group lowered their target price on Charter Communications from $425.00 to $355.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Finally, Citigroup reduced their price target on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $329.56.

Charter Communications Stock Down 3.2%

Charter Communications stock opened at $194.22 on Thursday. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The company’s 50-day moving average is $247.91 and its 200-day moving average is $315.31. The firm has a market capitalization of $25.13 billion, a PE ratio of 5.32, a P/E/G ratio of 0.55 and a beta of 1.05. Charter Communications, Inc. has a fifty-two week low of $193.49 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last posted 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). The business had revenue of $13.67 billion for the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.82 EPS. Sell-side analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications Company 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.