Pictet Asset Management Holding SA Sells 47,490 Shares of Charter Communications, Inc. $CHTR

Pictet Asset Management Holding SA trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 49.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,693 shares of the company’s stock after selling 47,490 shares during the period. Pictet Asset Management Holding SA’s holdings in Charter Communications were worth $10,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Quarry LP boosted its stake in Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new stake in Charter Communications in the 4th quarter valued at approximately $25,000. DV Equities LLC acquired a new stake in Charter Communications in the 4th quarter valued at approximately $25,000. Finally, Rakuten Securities Inc. increased its position in Charter Communications by 535.0% in the 2nd quarter. Rakuten Securities Inc. now owns 127 shares of the company’s stock worth $52,000 after buying an additional 107 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group reiterated a “neutral” rating and set a $235.00 price target on shares of Charter Communications in a report on Thursday, June 25th. Sanford C. Bernstein restated a “market perform” rating and issued a $210.00 price objective on shares of Charter Communications in a research note on Tuesday, May 26th. JPMorgan Chase & Co. assumed coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 target price on the stock. New Street Research cut their target price on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, Bank of America reduced their price target on shares of Charter Communications from $250.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $262.56.

Insider Transactions at Charter Communications

In other news, Director Thomas Rutledge sold 69,633 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the transaction, the director owned 3,968 shares in the company, valued at approximately $573,177.60. This represents a 94.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Balan Nair acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $175.46 per share, with a total value of $175,460.00. Following the purchase, the director owned 12,029 shares in the company, valued at approximately $2,110,608.34. This represents a 9.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 20,125 shares of company stock valued at $3,167,116 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Charter Communications Stock Performance

Charter Communications stock opened at $137.20 on Friday. The business has a 50 day moving average price of $145.77 and a two-hundred day moving average price of $192.11. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 12 month low of $124.05 and a 12 month high of $422.29. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 3.71, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.Charter Communications’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.42 EPS. As a group, equities analysts forecast that Charter Communications, Inc. will post 42.28 EPS for the current year.

About Charter Communications

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.