Weitz Investment Management Inc. Cuts Stock Position in Charter Communications, Inc. $CHTR

Weitz Investment Management Inc. lessened its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 99.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 650 shares of the company’s stock after selling 101,955 shares during the quarter. Weitz Investment Management Inc.’s holdings in Charter Communications were worth $136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHTR. AQR Capital Management LLC increased its holdings in Charter Communications by 129.1% in the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after acquiring an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Charter Communications by 16.3% during the first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after buying an additional 128 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Charter Communications by 48.1% during the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock worth $493,000 after buying an additional 435 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after buying an additional 55 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Trading Up 1.0%

Shares of CHTR stock opened at $139.14 on Friday. The company’s 50-day moving average price is $174.91 and its 200-day moving average price is $199.59. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The stock has a market cap of $17.11 billion, a price-to-earnings ratio of 3.76, a PEG ratio of 0.24 and a beta of 0.71. Charter Communications, Inc. has a twelve month low of $126.70 and a twelve month high of $422.29.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.42 EPS. As a group, equities analysts predict that Charter Communications, Inc. will post 43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHTR has been the subject of a number of research reports. Royal Bank Of Canada dropped their target price on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. JPMorgan Chase & Co. initiated coverage on shares of Charter Communications in a report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 target price for the company. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $210.00 target price on shares of Charter Communications in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $290.38.

Insider Activity

In other news, Director Wade Davis purchased 5,728 shares of the stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average price of $173.72 per share, with a total value of $995,068.16. Following the transaction, the director owned 6,925 shares in the company, valued at $1,203,011. The trade was a 478.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mauricio Ramos purchased 9,929 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the transaction, the director owned 19,309 shares in the company, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 20,125 shares of company stock worth $3,167,116. Insiders own 1.10% of the company’s stock.

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.