Sumitomo Mitsui Trust Group Inc. Sells 9,864 Shares of Charter Communications, Inc. $CHTR

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 222,934 shares of the company’s stock after selling 9,864 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Charter Communications were worth $61,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Cooper Financial Group grew its position in shares of Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company’s stock valued at $515,000 after purchasing an additional 28 shares during the period. Diversified Trust Co boosted its holdings in shares of Charter Communications by 3.5% in the second quarter. Diversified Trust Co now owns 880 shares of the company’s stock valued at $360,000 after buying an additional 30 shares during the period. Perigon Wealth Management LLC increased its position in shares of Charter Communications by 0.8% during the second quarter. Perigon Wealth Management LLC now owns 3,924 shares of the company’s stock worth $1,604,000 after acquiring an additional 33 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Charter Communications by 1.6% during the second quarter. V Square Quantitative Management LLC now owns 2,347 shares of the company’s stock worth $959,000 after acquiring an additional 37 shares during the period. Finally, Advisory Services Network LLC lifted its position in Charter Communications by 3.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock valued at $420,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Trading Up 2.2%

Shares of Charter Communications stock opened at $202.34 on Thursday. The stock has a market cap of $26.18 billion, a P/E ratio of 5.61, a P/E/G ratio of 0.54 and a beta of 1.06. 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 12-month low of $193.00 and a 12-month high of $437.06. The business’s 50 day moving average is $205.77 and its 200-day moving average is $260.88.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the business earned $8.82 EPS. The business’s revenue was down .7% compared to the same quarter last year. Equities research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Charter Communications from $275.00 to $200.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft cut their target price on Charter Communications from $325.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. Royal Bank Of Canada decreased their price target on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a research note on Monday, November 3rd. Finally, Benchmark reduced their target price on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $317.38.

Insider Transactions at Charter Communications

In related news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the transaction, the director owned 10,146 shares in the company, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.83% 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.