Ruane Cunniff & Goldfarb L.P. Trims Holdings in Charter Communications, Inc. $CHTR

Ruane Cunniff & Goldfarb L.P. lowered its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 57.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,563 shares of the company’s stock after selling 209,437 shares during the period. Charter Communications accounts for 0.5% of Ruane Cunniff & Goldfarb L.P.’s investment portfolio, making the stock its 24th largest holding. Ruane Cunniff & Goldfarb L.P. owned 0.12% of Charter Communications worth $32,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHTR. Dodge & Cox increased its stake in Charter Communications by 23.7% in the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares during the period. Vanguard Group Inc. boosted its stake in shares of Charter Communications by 9.5% during the fourth quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company’s stock worth $2,139,330,000 after buying an additional 885,935 shares during the period. State Street Corp grew its holdings in shares of Charter Communications by 22.7% during the third 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. Capital Research Global Investors grew its holdings in shares of Charter Communications by 304.9% during the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after buying an additional 3,626,135 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after acquiring an additional 1,617,148 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Trading Up 6.7%

NASDAQ CHTR opened at $131.61 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $16.19 billion, a P/E ratio of 3.42, a P/E/G ratio of 0.23 and a beta of 0.71. Charter Communications, Inc. has a 52-week low of $111.55 and a 52-week high of $309.40. The firm has a 50-day moving average price of $135.83 and a 200 day moving average price of $183.27.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. During the same quarter in the previous year, the company earned $9.18 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts expect that Charter Communications, Inc. will post 41.29 EPS for the current year.

Insider Activity at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of the company’s stock in a transaction 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 transaction, the director owned 3,968 shares of the company’s stock, valued at $583,057.92. This represents a 82.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mauricio Ramos acquired 9,929 shares of the business’s 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 transaction, the director directly 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. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

CHTR has been the subject of several analyst reports. BNP Paribas Exane reduced their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. TD Cowen dropped their target price on Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a report on Monday. UBS Group cut their price target on Charter Communications from $235.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday. New Street Research decreased their price target on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Charter Communications currently has an average rating of “Reduce” and a consensus target price of $230.62.

Trending Headlines about Charter Communications

Here are the key news stories impacting Charter Communications this week:

• Positive Sentiment: Charter reported quarterly EPS of $10.66, exceeding the $9.98 consensus estimate, while revenue of $13.53 billion was broadly in line with expectations. The earnings beat and robust cash generation may be supporting investor interest despite a 1.7% year-over-year revenue decline.
• Positive Sentiment: Charter unveiled a nearly $20 billion debt exchange and new bond plan. The initiative could help manage maturities and improve financial flexibility, an important consideration for a highly leveraged company. Charter Unveils Nearly $20 Billion Debt Exchange and New Bond Plan
• Positive Sentiment: A bullish investment view argues that CHTR is priced at a distressed valuation, with substantial free cash flow, mobile-subscriber growth, network modernization and share repurchases potentially supporting long-term returns and deleveraging. Charter Communications: Keep Adding On The Way Down
• Positive Sentiment: TD Cowen maintained a “buy” rating while lowering its price target to $380 from $413, implying substantial potential upside based on the reference price. TD Cowen price-target report
• Neutral Sentiment: Unusual options activity included 8,909 put contracts, about 10% above typical volume. This signals increased hedging or bearish speculation but does not establish a clear direction for the stock.
• Neutral Sentiment: Charter’s ability to stabilize its broadband customer base remains a key near-term question as investors assess customer losses, pricing and competition from fiber providers. Can Charter Communications Steady Its Broadband Base?
• Negative Sentiment: Several firms reduced their targets: RBC cut its target to $150 and assigned “sector perform,” while Barclays lowered its target to $115 and Wells Fargo to $101, with both firms maintaining “underweight” ratings. The revisions reflect concerns about broadband attrition, fiber competition and leverage.

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.