Hsbc Holdings PLC Has $33.32 Million Stake in Charter Communications, Inc. $CHTR

Hsbc Holdings PLC trimmed its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,015 shares of the company’s stock after selling 30,017 shares during the period. Hsbc Holdings PLC’s holdings in Charter Communications were worth $33,320,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Quarry LP lifted its holdings in shares of Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of Charter Communications in the 4th quarter worth about $25,000. DV Equities LLC acquired a new stake in shares of Charter Communications during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its holdings in Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Charter Communications by 1,600.0% during the 4th quarter. Manchester Capital Management LLC now owns 187 shares of the company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

Charter Communications stock opened at $129.16 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 1 year low of $124.05 and a 1 year high of $402.15. The company has a market cap of $15.89 billion, a PE ratio of 3.49, a PEG ratio of 0.24 and a beta of 0.71. The company’s 50-day moving average is $137.47 and its two-hundred day moving average is $186.15.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). The business 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%.The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.42 EPS. Equities analysts anticipate that Charter Communications, Inc. will post 41.47 earnings per share for the current year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director Thomas Rutledge sold 69,633 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. This trade represents a 94.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey bought 3,468 shares of the stock in a transaction on Tuesday, April 28th. The shares were acquired at an average cost of $172.23 per share, with a total value of $597,293.64. Following the acquisition, the chief executive officer directly owned 74,409 shares in the company, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. 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. JPMorgan Chase & Co. decreased their price target on Charter Communications from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Monday. Benchmark dropped their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Zacks Research downgraded Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Charter Communications currently has an average rating of “Reduce” and an average price target of $249.12.

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.