DNB Asset Management AS Sells 18,673 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

DNB Asset Management AS trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 53.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,527 shares of the company’s stock after selling 18,673 shares during the quarter. DNB Asset Management AS’s holdings in Charter Communications were worth $4,941,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CHTR. Capital International Investors increased its position in Charter Communications by 53.6% during the 1st quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock valued at $3,068,661,000 after buying an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Charter Communications by 96.5% in the 1st quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock valued at $827,848,000 after purchasing an additional 1,399,034 shares during the last quarter. Parnassus Investments LLC boosted its stake in Charter Communications by 40.1% in the 4th quarter. Parnassus Investments LLC now owns 1,620,542 shares of the company’s stock worth $629,872,000 after purchasing an additional 463,968 shares in the last quarter. Putnam Investments LLC increased its stake in Charter Communications by 24.5% during the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after purchasing an additional 242,448 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Charter Communications in the fourth quarter worth $310,727,000. 81.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Loop Capital reduced their target price on Charter Communications from $335.00 to $285.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Wolfe Research downgraded Charter Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 31st. Pivotal Research increased their price target on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charter Communications from $300.00 to $325.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, TD Cowen raised their target price on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $360.93.

Charter Communications Trading Up 1.1 %

CHTR stock opened at $360.70 on Wednesday. The business’s 50-day moving average is $307.03 and its 200 day moving average is $295.49. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30. The stock has a market cap of $51.49 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.70 and a beta of 1.04. The company has a current ratio of 0.39, a quick ratio of 0.40 and a debt-to-equity ratio of 5.84.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, topping the consensus estimate of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm had revenue of $13.69 billion during the quarter, compared to analysts’ expectations of $13.59 billion. During the same period in the previous year, the business earned $8.05 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Charter Communications, Inc. will post 32.52 EPS for the current fiscal year.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.