Allen Investment Management LLC trimmed its holdings in Charter Communications Inc (NASDAQ:CHTR) by 0.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 404,555 shares of the company’s stock after selling 50 shares during the quarter. Charter Communications comprises approximately 4.6% of Allen Investment Management LLC’s portfolio, making the stock its 6th biggest position. Allen Investment Management LLC’s holdings in Charter Communications were worth $115,286,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital International Investors increased its holdings in Charter Communications by 752.5% in the 3rd quarter. Capital International Investors now owns 3,674,059 shares of the company’s stock worth $1,197,302,000 after buying an additional 3,243,090 shares in the last quarter. First Pacific Advisors LP grew its stake in shares of Charter Communications by 4.5% during the 3rd quarter. First Pacific Advisors LP now owns 1,056,460 shares of the company’s stock valued at $344,279,000 after purchasing an additional 45,204 shares during the period. Morgan Stanley grew its stake in shares of Charter Communications by 1.1% during the 3rd quarter. Morgan Stanley now owns 955,767 shares of the company’s stock valued at $311,467,000 after purchasing an additional 9,976 shares during the period. Legal & General Group Plc grew its stake in shares of Charter Communications by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 785,747 shares of the company’s stock valued at $256,059,000 after purchasing an additional 10,808 shares during the period. Finally, Altarock Partners LLC grew its stake in shares of Charter Communications by 11.7% during the 3rd quarter. Altarock Partners LLC now owns 766,598 shares of the company’s stock valued at $249,819,000 after purchasing an additional 80,200 shares during the period. Institutional investors own 74.25% of the company’s stock.
In other news, EVP Jonathan Hargis sold 15,000 shares of Charter Communications stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $339.51, for a total transaction of $5,092,650.00. Following the transaction, the executive vice president now directly owns 15,964 shares of the company’s stock, valued at approximately $5,419,937.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Bickham sold 14,017 shares of Charter Communications stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $340.86, for a total value of $4,777,834.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,214 shares of company stock worth $18,490,531. Insiders own 0.83% of the company’s stock.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Thursday, January 31st. The company reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.20). Charter Communications had a net margin of 2.82% and a return on equity of 2.70%. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.15 billion. As a group, equities analysts forecast that Charter Communications Inc will post 7.19 earnings per share for the current fiscal year.
A number of research firms have issued reports on CHTR. Royal Bank of Canada set a $400.00 price target on Charter Communications and gave the company a “buy” rating in a research note on Saturday, February 2nd. TD Securities boosted their price target on Charter Communications from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Friday, February 1st. Credit Suisse Group restated a “neutral” rating and set a $345.00 price target (up from $294.00) on shares of Charter Communications in a research note on Friday, February 1st. Raymond James cut their price target on Charter Communications from $400.00 to $365.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 31st. Finally, Citigroup cut their price target on Charter Communications from $375.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $361.21.
Charter Communications Profile
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
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