Metis Global Partners LLC Decreases Position in Charter Communications, Inc. $CHTR

Metis Global Partners LLC lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 22.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,026 shares of the company’s stock after selling 1,187 shares during the quarter. Metis Global Partners LLC’s holdings in Charter Communications were worth $1,646,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penserra Capital Management LLC grew its position in Charter Communications by 11.8% in the second quarter. Penserra Capital Management LLC now owns 521 shares of the company’s stock valued at $212,000 after acquiring an additional 55 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd boosted its stake in shares of Charter Communications by 0.6% in the second quarter. Rothschild & Co Wealth Management UK Ltd now owns 553,753 shares of the company’s stock valued at $226,380,000 after purchasing an additional 3,530 shares during the period. Andra AP fonden grew its holdings in Charter Communications by 5,371.2% during the 2nd quarter. Andra AP fonden now owns 38,900 shares of the company’s stock valued at $15,903,000 after purchasing an additional 38,189 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in Charter Communications by 4.4% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 31,426 shares of the company’s stock worth $12,807,000 after buying an additional 1,318 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in Charter Communications in the 2nd quarter worth $25,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Trading Down 4.3%

Shares of NASDAQ CHTR opened at $210.45 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The stock’s 50 day moving average price is $256.11 and its two-hundred day moving average price is $323.66. Charter Communications, Inc. has a 52-week low of $209.91 and a 52-week high of $437.06. The stock has a market capitalization of $28.75 billion, a P/E ratio of 5.76, a PEG ratio of 0.55 and a beta of 1.04.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The firm had revenue of $13.67 billion during the quarter, compared to the consensus estimate 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 down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $8.82 earnings per share. On average, analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the sale, the director directly owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup lowered their target price on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company reduced their price target on Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Oppenheimer lowered Charter Communications from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 4th. Benchmark cut their target price on Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $280.00 target price (down from $350.00) on shares of Charter Communications in a research note on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $329.56.

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.