Pallas Capital Advisors LLC Trims Stock Position in Charter Communications, Inc. $CHTR

Pallas Capital Advisors LLC decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 56.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,002 shares of the company’s stock after selling 2,612 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Charter Communications were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dodge & Cox lifted its holdings in shares of Charter Communications by 6.1% in the 3rd quarter. Dodge & Cox now owns 11,807,549 shares of the company’s stock valued at $3,248,316,000 after purchasing an additional 681,063 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after purchasing an additional 1,130,648 shares during the period. State Street Corp grew its stake in Charter Communications by 22.7% during the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after buying an additional 1,475,383 shares during the last quarter. Invesco Ltd. increased its position in Charter Communications by 30.3% during the third quarter. Invesco Ltd. now owns 2,407,731 shares of the company’s stock worth $662,379,000 after buying an additional 559,361 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Charter Communications by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company’s stock worth $629,498,000 after buying an additional 42,499 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHTR. BNP Paribas Exane decreased their price objective on Charter Communications from $160.00 to $150.00 and set an “underperform” rating for the company in a report on Tuesday, February 24th. New Street Research cut their target price on shares of Charter Communications from $479.00 to $328.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Williams Trading set a $437.00 price target on shares of Charter Communications in a research report on Monday, February 2nd. Benchmark increased their price target on shares of Charter Communications from $425.00 to $455.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Sanford C. Bernstein set a $220.00 price objective on shares of Charter Communications in a research report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $335.11.

Charter Communications Stock Down 2.3%

Shares of NASDAQ:CHTR opened at $215.88 on Wednesday. The company has a market cap of $27.34 billion, a price-to-earnings ratio of 5.95, a PEG ratio of 0.35 and a beta of 1.02. The firm’s 50-day simple moving average is $220.43 and its 200-day simple moving average is $224.38. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 4.65. Charter Communications, Inc. has a fifty-two week low of $180.38 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.40 by ($0.06). The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $10.10 earnings per share. As a group, equities research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications Company 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.