The Manufacturers Life Insurance Company Sells 123,174 Shares of Charter Communications, Inc. $CHTR

The Manufacturers Life Insurance Company reduced its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 43.3% in the 1st quarter, HoldingsChannel reports. The fund owned 161,124 shares of the company’s stock after selling 123,174 shares during the period. The Manufacturers Life Insurance Company’s holdings in Charter Communications were worth $34,783,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in shares of Charter Communications by 3.8% during the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock worth $420,000 after purchasing an additional 38 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Charter Communications by 1.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company’s stock valued at $988,000 after purchasing an additional 41 shares during the period. Occudo Quantitative Strategies LP raised its position in Charter Communications by 1.4% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company’s stock worth $1,255,000 after purchasing an additional 41 shares during the last quarter. Pure Financial Advisors LLC raised its position in Charter Communications by 4.1% during the 4th quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company’s stock worth $233,000 after purchasing an additional 44 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Charter Communications by 3.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company’s stock worth $392,000 after buying an additional 49 shares during the period. Institutional investors own 81.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Freedom Capital upgraded Charter Communications to a “hold” rating in a research report on Friday, June 12th. Bank of America restated a “buy” rating on shares of Charter Communications in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a report on Monday, April 27th. TD Cowen decreased their target price on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Finally, The Goldman Sachs Group lowered their price target on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $226.88.

Charter Communications Stock Performance

Shares of CHTR opened at $144.98 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32. The firm’s fifty day simple moving average is $135.65 and its two-hundred day simple moving average is $181.61. Charter Communications, Inc. has a 12 month low of $111.55 and a 12 month high of $285.82. The stock has a market capitalization of $17.29 billion, a P/E ratio of 3.76, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company posted $9.18 EPS. As a group, analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current year.

Insider Activity at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the sale, the director owned 3,968 shares of the company’s stock, valued at $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mauricio Ramos bought 9,929 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the acquisition, the director owned 19,309 shares of the company’s stock, valued at $2,721,217.37. This represents a 105.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

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.