Charter Communications, Inc. $CHTR Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 8.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,708 shares of the company’s stock after selling 2,718 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Charter Communications were worth $7,903,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in Charter Communications in the 2nd quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new position in shares of Charter Communications during the second quarter worth $28,000. Webster Bank N. A. purchased a new position in shares of Charter Communications in the third quarter valued at $28,000. Heritage Wealth Advisors acquired a new stake in Charter Communications during the 2nd quarter valued at $29,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Charter Communications during the 3rd quarter valued at $30,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CHTR shares. Royal Bank Of Canada cut their price objective on shares of Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. UBS Group cut their price target on Charter Communications from $355.00 to $233.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. The Goldman Sachs Group lowered their price objective on Charter Communications from $215.00 to $210.00 and set a “sell” rating for the company in a research note on Thursday, December 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a report on Monday, December 29th. Finally, Zacks Research lowered Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $314.87.

Insider Buying and Selling at Charter Communications

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 value of $271,416.00. Following the transaction, the director directly 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.83% of the company’s stock.

Charter Communications Trading Up 1.1%

NASDAQ:CHTR opened at $193.79 on Tuesday. The company has a market cap of $25.08 billion, a PE ratio of 5.38, a P/E/G ratio of 0.53 and a beta of 1.06. The business’s 50 day moving average is $202.65 and its two-hundred day moving average is $247.41. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 4.89. Charter Communications, Inc. has a 52 week low of $183.75 and a 52 week high of $437.06.

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

Charter Communications 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.