Sumitomo Mitsui Trust Group Inc. Sells 9,864 Shares of Charter Communications, Inc. $CHTR

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 222,934 shares of the company’s stock after selling 9,864 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of Charter Communications worth $61,330,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Charter Communications in the 2nd quarter valued at approximately $1,145,387,000. Allianz Asset Management GmbH grew its position in Charter Communications by 48.8% in the second quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company’s stock valued at $304,674,000 after acquiring an additional 244,324 shares during the period. Lind Value II ApS bought a new stake in Charter Communications in the third quarter valued at $60,646,000. Arrowstreet Capital Limited Partnership raised its stake in Charter Communications by 15.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,575,818 shares of the company’s stock worth $644,210,000 after acquiring an additional 209,869 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 valued at $2,651,669,000 after acquiring an additional 198,979 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Insider Buying and Selling at Charter Communications

In related news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction that occurred 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 transaction, the director owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CHTR has been the subject of a number of recent analyst reports. Citigroup dropped their target price on shares of Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. UBS Group cut their target price on shares of Charter Communications from $355.00 to $233.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $280.00 target price (down from $350.00) on shares of Charter Communications in a report on Monday, November 3rd. Oppenheimer downgraded Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Finally, BNP Paribas Exane reduced their price objective on Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $317.38.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $202.34 on Thursday. The firm has a fifty day moving average of $205.77 and a two-hundred day moving average of $260.88. The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $26.18 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 0.54 and a beta of 1.06. Charter Communications, Inc. has a 52 week low of $193.00 and a 52 week high of $437.06.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.The company had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period last year, the firm earned $8.82 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current year.

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.