Charter Communications (NASDAQ:CHTR) Shares Down 4.2% – Time to Sell?

Charter Communications, Inc. (NASDAQ:CHTR) shares were down 4.2% on Wednesday . The stock traded as low as $151.06 and last traded at $151.0040. Approximately 65,857 shares traded hands during trading, a decline of 98% from the average daily volume of 2,733,582 shares. The stock had previously closed at $157.69.

Wall Street Analysts Forecast Growth

Several research firms have commented on CHTR. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Bank of America restated a “buy” rating on shares of Charter Communications in a report on Monday, July 27th. Citigroup reduced their price objective on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Wells Fargo & Company decreased their price objective on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, July 27th. Finally, TD Cowen cut 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, July 27th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $226.88.

Charter Communications Stock Performance

The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a fifty day simple moving average of $136.87 and a 200 day simple moving average of $179.49. The company has a market cap of $17.91 billion, a price-to-earnings ratio of 3.90, a P/E/G ratio of 0.25 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion during the quarter, compared to analysts’ expectations of $13.51 billion. During the same period in the previous year, the company earned $9.18 earnings per share. Charter Communications’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 3,968 shares of the company’s stock, valued at approximately $583,057.92. The trade was a 82.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mauricio Ramos bought 9,929 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the purchase, the director owned 19,309 shares in the company, valued at $2,721,217.37. This trade represents a 105.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charter Communications

Hedge funds have recently modified their holdings of the business. Capital Research Global Investors grew its stake in shares of Charter Communications by 304.9% in the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after acquiring an additional 3,626,135 shares during the last quarter. Dodge & Cox grew its position in Charter Communications by 23.7% in the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after purchasing an additional 2,801,671 shares during the last quarter. Norges Bank bought a new position in shares of Charter Communications during the 4th quarter worth about $555,383,000. Voyager Global Management LP raised its position in shares of Charter Communications by 1,380.0% during the fourth quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after buying an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after buying an additional 1,617,148 shares during the period. 81.76% of the stock is owned by institutional investors.

About Charter Communications

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.