Pallas Capital Advisors LLC Cuts Position in Charter Communications, Inc. $CHTR

Pallas Capital Advisors LLC trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 56.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,002 shares of the company’s stock after selling 2,612 shares during the period. Pallas Capital Advisors LLC’s holdings in Charter Communications were worth $418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CHTR. Optimize Financial Inc acquired a new position in Charter Communications in the 3rd quarter valued at about $1,557,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Charter Communications by 245.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,717 shares of the company’s stock worth $4,069,000 after purchasing an additional 10,455 shares in the last quarter. State Street Corp lifted its position in shares of Charter Communications by 3.2% during the second quarter. State Street Corp now owns 6,486,312 shares of the company’s stock worth $2,651,669,000 after purchasing an additional 198,979 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Charter Communications in the third quarter valued at approximately $5,260,000. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Charter Communications in the third quarter valued at approximately $28,651,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Shares of NASDAQ CHTR opened at $215.88 on Wednesday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.39 and a current ratio of 0.39. Charter Communications, Inc. has a fifty-two week low of $180.38 and a fifty-two week high of $437.06. The firm has a market capitalization of $27.34 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.35 and a beta of 1.02. The stock’s 50-day simple moving average is $220.43 and its 200-day simple moving average is $224.38.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.73 billion. Charter Communications had a net margin of 9.10% and a return on equity of 24.63%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $10.10 earnings per share. As a group, equities research analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CHTR. The Goldman Sachs Group cut their target price on shares of Charter Communications from $210.00 to $185.00 and set a “sell” rating on the stock in a research note on Monday, February 2nd. Benchmark boosted their price target on shares of Charter Communications from $425.00 to $455.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Royal Bank Of Canada cut their price objective on Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. BNP Paribas Exane reduced their price objective on Charter Communications from $160.00 to $150.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 24th. Finally, TD Cowen lifted their target price on Charter Communications from $428.00 to $437.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $335.11.

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.