Welch & Forbes LLC Has $231,000 Stock Position in Charter Communications, Inc. (NASDAQ:CHTR)

Welch & Forbes LLC lowered its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 23.6% in the third quarter, HoldingsChannel reports. The fund owned 317 shares of the company’s stock after selling 98 shares during the period. Welch & Forbes LLC’s holdings in Charter Communications were worth $231,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Charter Communications in the 2nd quarter valued at approximately $32,000. Strategic Blueprint LLC bought a new stake in Charter Communications in the 2nd quarter valued at $33,000. MV Capital Management Inc. increased its position in Charter Communications by 48.7% during the 2nd quarter. MV Capital Management Inc. now owns 58 shares of the company’s stock worth $42,000 after buying an additional 19 shares during the period. Front Row Advisors LLC increased its position in Charter Communications by 323.5% during the 2nd quarter. Front Row Advisors LLC now owns 72 shares of the company’s stock worth $57,000 after buying an additional 55 shares during the period. Finally, Koshinski Asset Management Inc. bought a new position in Charter Communications during the 3rd quarter worth $61,000. 69.90% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Thomas Rutledge sold 43,106 shares of the business’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $674.34, for a total transaction of $29,068,100.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

A number of brokerages have recently commented on CHTR. Exane BNP Paribas began coverage on Charter Communications in a research note on Monday, September 27th. They set an “outperform” rating and a $956.00 price target on the stock. Morgan Stanley lowered their price objective on Charter Communications from $825.00 to $810.00 and set an “overweight” rating for the company in a research report on Tuesday, October 19th. KeyCorp raised their price objective on Charter Communications from $771.00 to $869.00 and gave the stock an “overweight” rating in a research report on Monday, August 2nd. BNP Paribas started coverage on Charter Communications in a research report on Monday, September 27th. They set an “outperform” rating and a $956.00 price objective for the company. Finally, Loop Capital lowered their target price on Charter Communications from $815.00 to $730.00 and set a “hold” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Charter Communications has an average rating of “Buy” and a consensus target price of $803.21.

CHTR stock opened at $672.69 on Thursday. The stock’s fifty day simple moving average is $712.51 and its two-hundred day simple moving average is $726.45. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 3.97. Charter Communications, Inc. has a 1-year low of $585.45 and a 1-year high of $825.62. The stock has a market cap of $120.61 billion, a P/E ratio of 30.65, a P/E/G ratio of 0.88 and a beta of 0.96.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Thursday, October 28th. The company reported $6.50 EPS for the quarter, beating analysts’ consensus estimates of $5.71 by $0.79. Charter Communications had a return on equity of 16.19% and a net margin of 8.40%. The firm had revenue of $13.15 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same quarter in the prior year, the firm earned $3.90 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, analysts forecast that Charter Communications, Inc. will post 21.65 earnings per share for the current fiscal year.

Charter Communications Profile

Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.

Further Reading: Straddles

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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