NEOS Investment Management LLC Lowers Stock Holdings in Charter Communications, Inc. $CHTR

NEOS Investment Management LLC reduced its position in Charter Communications, Inc. (NASDAQ:CHTR) by 84.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,191 shares of the company’s stock after selling 71,920 shares during the quarter. NEOS Investment Management LLC’s holdings in Charter Communications were worth $1,876,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Charter Communications by 129.1% in the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after purchasing an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Charter Communications by 16.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock valued at $336,000 after purchasing an additional 128 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Charter Communications by 48.1% in the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock worth $493,000 after purchasing an additional 435 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after buying an additional 55 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Charter Communications by 451.1% in the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $151.99 on Tuesday. The business has a 50 day moving average of $143.46 and a 200 day moving average of $170.70. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 0.32 and a beta of 0.69. Charter Communications, Inc. has a 1-year low of $111.55 and a 1-year high of $285.82. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion for the quarter, compared to analysts’ expectations of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $9.18 earnings per share. On average, sell-side analysts predict that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen lowered their price target on Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Bank of America restated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Freedom Capital upgraded shares of Charter Communications to a “hold” rating in a research report on Friday, June 12th. Finally, BNP Paribas Exane cut their price target on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $226.88.

Charter Communications Company 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.