Louisiana State Employees Retirement System Trims Holdings in Charter Communications, Inc. $CHTR

Louisiana State Employees Retirement System decreased its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,300 shares of the company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Charter Communications were worth $6,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Charter Communications by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company’s stock valued at $3,018,909,000 after purchasing an additional 120,303 shares during the last quarter. JPMorgan Chase & Co. raised its position in Charter Communications by 53.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company’s stock worth $851,331,000 after buying an additional 806,145 shares during the last quarter. Invesco Ltd. raised its position in Charter Communications by 7.0% during the 1st quarter. Invesco Ltd. now owns 1,834,807 shares of the company’s stock worth $676,181,000 after buying an additional 120,624 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Charter Communications by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,283,315 shares of the company’s stock worth $472,941,000 after buying an additional 19,594 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Charter Communications by 22.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company’s stock worth $405,118,000 after buying an additional 198,444 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CHTR shares. Wells Fargo & Company started coverage on shares of Charter Communications in a research report on Thursday, August 21st. They set an “equal weight” rating and a $300.00 price objective for the company. UBS Group cut their price objective on shares of Charter Communications from $425.00 to $355.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Wolfe Research upgraded shares of Charter Communications from an “underperform” rating to a “peer perform” rating in a research report on Friday, June 20th. The Goldman Sachs Group began coverage on shares of Charter Communications in a research report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Charter Communications in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $373.71.

Insider Transactions at Charter Communications

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

Charter Communications Stock Performance

NASDAQ:CHTR opened at $274.37 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a fifty-two week low of $251.80 and a fifty-two week high of $437.06. The stock has a market cap of $37.48 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 0.62 and a beta of 1.05. The firm’s fifty day simple moving average is $266.80 and its 200-day simple moving average is $341.01.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $8.49 earnings per share. Analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Charter Communications 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.