Leonteq Securities AG Sells 4,935 Shares of Charter Communications, Inc. $CHTR

by · The Cerbat Gem

Leonteq Securities AG decreased its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR – Free Report) by 48.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,215 shares of the company’s stock after selling 4,935 shares during the period. Leonteq Securities AG’s holdings in Charter Communications were worth $1,126,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CHTR shares. Benchmark cut their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Royal Bank Of Canada dropped their price objective on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $210.00 target price on shares of Charter Communications in a research note on Tuesday, May 26th. Finally, Citigroup reduced their target price on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating for the company in a report on Monday, June 29th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $262.56.

Check Out Our Latest Report on Charter Communications

Charter Communications Price Performance

NASDAQ CHTR opened at $137.20 on Friday. The firm’s fifty day simple moving average is $145.77 and its two-hundred day simple moving average is $192.11. The firm has a market capitalization of $16.87 billion, a P/E ratio of 3.71, a P/E/G ratio of 0.24 and a beta of 0.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 12-month low of $124.05 and a 12-month high of $422.29.

Charter Communications (NASDAQ:CHTR – Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.42 EPS. Analysts forecast that Charter Communications, Inc. will post 42.28 EPS for the current fiscal year.

Insider Activity at Charter Communications

In other Charter Communications news, Director Wade Davis bought 5,728 shares of Charter Communications stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average cost of $173.72 per share, with a total value of $995,068.16. Following the transaction, the director directly owned 6,925 shares of the company’s stock, valued at approximately $1,203,011. This represents a 478.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Rutledge sold 69,633 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director owned 3,968 shares of the company’s stock, valued at approximately $573,177.60. This trade represents a 94.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired a total of 20,125 shares of company stock worth $3,167,116 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Charter Communications Company Profile

(Free Report)

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.

Further Reading

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