Pzena Investment Management LLC Reduces Position in Charter Communications, Inc. $CHTR

Pzena Investment Management LLC decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 4.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,650,032 shares of the company’s stock after selling 133,435 shares during the quarter. Charter Communications accounts for 3.5% of Pzena Investment Management LLC’s investment portfolio, making the stock its 8th biggest holding. Pzena Investment Management LLC’s holdings in Charter Communications were worth $1,083,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MGO One Seven LLC bought a new stake in Charter Communications during the second quarter worth approximately $234,000. LRI Investments LLC raised its holdings in Charter Communications by 124.1% during the second quarter. LRI Investments LLC now owns 195 shares of the company’s stock worth $80,000 after purchasing an additional 108 shares in the last quarter. Alta Advisers Ltd bought a new stake in Charter Communications during the second quarter worth approximately $216,000. CWM LLC raised its holdings in Charter Communications by 38.7% during the second quarter. CWM LLC now owns 2,683 shares of the company’s stock worth $1,097,000 after purchasing an additional 749 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in Charter Communications during the second quarter worth approximately $981,000. Institutional investors own 81.76% of the company’s stock.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $259.49 on Monday. The company’s fifty day moving average is $266.61 and its two-hundred day moving average is $338.90. 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 12-month low of $251.80 and a 12-month high of $437.06. The company has a market cap of $35.44 billion, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period last year, the firm earned $8.49 earnings per share. Charter Communications’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Charter Communications

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

Analyst Ratings Changes

Several equities research analysts recently commented on CHTR shares. UBS Group dropped their target price on Charter Communications from $425.00 to $355.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. KeyCorp dropped their price target on Charter Communications from $500.00 to $430.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Arete Research raised Charter Communications to a “strong sell” rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Charter Communications from $370.00 to $325.00 and set a “hold” rating on the stock in a report on Monday, October 6th. Finally, Sanford C. Bernstein dropped their price target on Charter Communications from $380.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Charter Communications presently has a consensus rating of “Hold” and an average price target of $373.71.

About Charter Communications

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.