Sheets Smith Wealth Management Grows Position in Charter Communications, Inc. (NASDAQ:CHTR)

Sheets Smith Wealth Management increased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 35.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,246 shares of the company’s stock after buying an additional 324 shares during the quarter. Sheets Smith Wealth Management’s holdings in Charter Communications were worth $824,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CHTR. Principal Financial Group Inc. grew its stake in Charter Communications by 18.4% during the 2nd quarter. Principal Financial Group Inc. now owns 916,725 shares of the company’s stock worth $467,566,000 after buying an additional 142,733 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Charter Communications by 2.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 162,857 shares of the company’s stock valued at $83,065,000 after purchasing an additional 4,621 shares during the last quarter. FMR LLC grew its stake in shares of Charter Communications by 15.0% in the 2nd quarter. FMR LLC now owns 1,707,452 shares of the company’s stock valued at $870,870,000 after purchasing an additional 222,339 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Charter Communications by 7.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,363 shares of the company’s stock valued at $680,000 after purchasing an additional 96 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Charter Communications by 34.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,849 shares of the company’s stock valued at $965,000 after purchasing an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 70.05% of the company’s stock.

In other Charter Communications news, CMO Jonathan Hargis sold 9,679 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $594.81, for a total transaction of $5,757,165.99. Following the completion of the sale, the chief marketing officer now owns 47,578 shares of the company’s stock, valued at $28,299,870.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard R. Dykhouse sold 7,927 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $632.34, for a total value of $5,012,559.18. Following the sale, the executive vice president now directly owns 26,811 shares of the company’s stock, valued at approximately $16,953,667.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,860 shares of company stock valued at $45,482,701. 1.18% of the stock is owned by company insiders.

Shares of NASDAQ:CHTR opened at $618.01 on Thursday. The company has a market cap of $123.52 billion, a P/E ratio of 48.78, a P/E/G ratio of 0.68 and a beta of 1.00. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.31. Charter Communications, Inc. has a 52 week low of $345.67 and a 52 week high of $681.71. The business has a fifty day simple moving average of $651.51 and a 200-day simple moving average of $613.26.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $3.90 EPS for the quarter, beating the Zacks’ consensus estimate of $3.03 by $0.87. The business had revenue of $12.04 billion during the quarter, compared to the consensus estimate of $12.04 billion. Charter Communications had a return on equity of 7.50% and a net margin of 5.70%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 earnings per share. Sell-side analysts expect that Charter Communications, Inc. will post 14.26 earnings per share for the current fiscal year.

Several research analysts have weighed in on CHTR shares. Morgan Stanley lifted their target price on Charter Communications from $750.00 to $770.00 and gave the company an “overweight” rating in a research note on Wednesday, December 16th. Evercore ISI assumed coverage on Charter Communications in a research note on Thursday, January 7th. They issued an “outperform” rating on the stock. TD Securities raised their price target on Charter Communications from $650.00 to $660.00 and gave the company a “hold” rating in a report on Monday, November 2nd. Rosenblatt Securities raised their price target on Charter Communications from $700.00 to $750.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Finally, Citigroup raised their price target on Charter Communications from $700.00 to $735.00 and gave the company a “buy” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $648.76.

About Charter Communications

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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