First Manhattan CO. LLC. Sells 9,714 Shares of Charter Communications, Inc. $CHTR

First Manhattan CO. LLC. trimmed its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,115 shares of the company’s stock after selling 9,714 shares during the period. First Manhattan CO. LLC.’s holdings in Charter Communications were worth $30,262,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its stake in shares of Charter Communications by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company’s stock worth $1,153,000 after purchasing an additional 25 shares during the period. Allworth Financial LP raised its stake in shares of Charter Communications by 10.5% during the 1st quarter. Allworth Financial LP now owns 283 shares of the company’s stock worth $104,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management raised its stake in shares of Charter Communications by 24.3% during the 1st quarter. Hemington Wealth Management now owns 143 shares of the company’s stock worth $52,000 after purchasing an additional 28 shares during the period. Brown Advisory Inc. raised its stake in Charter Communications by 1.1% in the 1st quarter. Brown Advisory Inc. now owns 2,704 shares of the company’s stock valued at $997,000 after acquiring an additional 29 shares during the period. Finally, Kathmere Capital Management LLC raised its stake in Charter Communications by 3.8% in the 1st quarter. Kathmere Capital Management LLC now owns 876 shares of the company’s stock valued at $323,000 after acquiring an additional 32 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CHTR shares. Sanford C. Bernstein upgraded Charter Communications from a “market perform” rating to an “outperform” rating and set a $380.00 price objective on the stock in a research note on Monday, July 28th. Royal Bank Of Canada lowered their price objective on Charter Communications from $430.00 to $370.00 and set a “sector perform” rating on the stock in a research note on Monday, July 28th. Raymond James Financial upgraded Charter Communications from an “underperform” rating to a “market perform” rating in a research note on Monday, May 19th. Arete Research upgraded Charter Communications to a “strong sell” rating in a research note on Tuesday, July 8th. Finally, Wolfe Research upgraded Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $404.71.

Charter Communications Stock Up 0.7%

CHTR stock opened at $265.58 on Monday. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02. The company’s 50 day moving average is $331.68 and its 200 day moving average is $359.20. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a 1-year low of $254.67 and a 1-year high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). The firm had revenue of $13.77 billion during the quarter, compared to analysts’ expectations of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $8.49 EPS. Sell-side analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insider Activity at Charter Communications

In other news, Director Balan Nair bought 360 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the purchase, the director directly owned 9,622 shares in the company, valued at $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher L. Winfrey bought 3,670 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the purchase, the chief executive officer owned 70,243 shares of the company’s stock, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.