Standard Life Aberdeen plc Cuts Position in Charter Communications Inc (NASDAQ:CHTR)

Standard Life Aberdeen plc lowered its holdings in Charter Communications Inc (NASDAQ:CHTR) by 5.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 72,244 shares of the company’s stock after selling 4,170 shares during the quarter. Standard Life Aberdeen plc’s holdings in Charter Communications were worth $35,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in Charter Communications by 51.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,577,343 shares of the company’s stock worth $765,138,000 after buying an additional 536,162 shares during the period. Principal Financial Group Inc. lifted its position in shares of Charter Communications by 107.4% during the 4th quarter. Principal Financial Group Inc. now owns 720,425 shares of the company’s stock valued at $349,464,000 after acquiring an additional 373,083 shares during the period. Bessemer Group Inc. boosted its stake in shares of Charter Communications by 6,858.2% during the 4th quarter. Bessemer Group Inc. now owns 351,805 shares of the company’s stock worth $170,655,000 after acquiring an additional 346,749 shares in the last quarter. Altarock Partners LLC boosted its stake in shares of Charter Communications by 13.4% during the 3rd quarter. Altarock Partners LLC now owns 1,081,554 shares of the company’s stock worth $445,730,000 after acquiring an additional 127,388 shares in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in shares of Charter Communications by 162.7% in the 3rd quarter. Nomura Holdings Inc. now owns 166,988 shares of the company’s stock worth $67,751,000 after acquiring an additional 103,426 shares during the period. Institutional investors own 71.87% of the company’s stock.

Several brokerages recently issued reports on CHTR. Guggenheim reaffirmed a “buy” rating and set a $570.00 price objective on shares of Charter Communications in a report on Monday, February 3rd. Credit Suisse Group upgraded Charter Communications from a “neutral” rating to an “outperform” rating and raised their price target for the company from $520.00 to $600.00 in a research report on Monday, February 3rd. Benchmark upgraded Charter Communications from a “hold” rating to a “buy” rating and set a $573.00 price target for the company in a research report on Wednesday, March 11th. Citigroup lifted their price target on Charter Communications from $505.00 to $605.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Cfra upgraded shares of Charter Communications from a “buy” rating to a “strong-buy” rating and decreased their price objective for the stock from $575.00 to $525.00 in a research report on Thursday. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Charter Communications has an average rating of “Buy” and an average price target of $528.95.

In other Charter Communications news, CFO Christopher L. Winfrey sold 19,337 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $523.77, for a total transaction of $10,128,140.49. Following the transaction, the chief financial officer now owns 91,156 shares of the company’s stock, valued at approximately $47,744,778.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Jonathan Hargis sold 7,904 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $525.36, for a total value of $4,152,445.44. Following the sale, the chief marketing officer now owns 72,020 shares in the company, valued at approximately $37,836,427.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,968 shares of company stock valued at $19,432,487. Insiders own 0.84% of the company’s stock.

Charter Communications stock traded up $33.40 during midday trading on Thursday, reaching $454.17. 2,182,490 shares of the company were exchanged, compared to its average volume of 1,857,026. The company has a market capitalization of $88.06 billion, a price-to-earnings ratio of 60.40, a P/E/G ratio of 0.80 and a beta of 1.02. The firm’s 50-day simple moving average is $487.36 and its 200-day simple moving average is $469.97. Charter Communications Inc has a 1 year low of $343.15 and a 1 year high of $546.54. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.52 and a current ratio of 0.52.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, January 31st. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.78. Charter Communications had a net margin of 3.64% and a return on equity of 4.07%. The company had revenue of $11.76 billion for the quarter, compared to analyst estimates of $11.71 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts forecast that Charter Communications Inc will post 13.79 EPS for the current fiscal year.

Charter Communications Company Profile

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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