State of Michigan Retirement System Lowers Stock Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

State of Michigan Retirement System reduced its position in Charter Communications, Inc. (NASDAQ:CHTR) by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 27,097 shares of the company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Charter Communications were worth $7,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Charter Communications by 9.7% in the 3rd quarter. AQR Capital Management LLC now owns 14,782 shares of the company’s stock worth $6,501,000 after acquiring an additional 1,311 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Charter Communications by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 102,802 shares of the company’s stock valued at $39,957,000 after purchasing an additional 2,940 shares during the last quarter. Graham Capital Management L.P. boosted its holdings in shares of Charter Communications by 354.7% in the 3rd quarter. Graham Capital Management L.P. now owns 15,133 shares of the company’s stock valued at $6,656,000 after purchasing an additional 11,805 shares during the last quarter. Kinetic Partners Management LP boosted its holdings in shares of Charter Communications by 51.3% in the 3rd quarter. Kinetic Partners Management LP now owns 177,801 shares of the company’s stock valued at $78,200,000 after purchasing an additional 60,300 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Charter Communications by 14.3% in the 4th quarter. Mackenzie Financial Corp now owns 47,854 shares of the company’s stock valued at $18,600,000 after purchasing an additional 5,979 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHTR. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Charter Communications from $375.00 to $320.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company decreased their price target on shares of Charter Communications from $290.00 to $260.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Sanford C. Bernstein upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a report on Monday, March 18th. Barclays reduced their target price on shares of Charter Communications from $280.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. Finally, Bank of America reduced their target price on shares of Charter Communications from $315.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications has a consensus rating of “Hold” and a consensus target price of $343.13.

Charter Communications Stock Up 2.5 %

Charter Communications stock traded up $7.48 during midday trading on Tuesday, hitting $303.50. 1,156,512 shares of the stock were exchanged, compared to its average volume of 1,458,202. Charter Communications, Inc. has a 1 year low of $236.08 and a 1 year high of $458.30. The firm has a market cap of $43.71 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.11 and a beta of 1.04. The company has a debt-to-equity ratio of 6.28, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50 day moving average price of $275.31 and a two-hundred day moving average price of $304.41.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, April 26th. The company reported $7.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.78 by ($0.23). The firm had revenue of $13.68 billion for the quarter, compared to analysts’ expectations of $13.75 billion. Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $6.65 EPS. On average, sell-side analysts predict that Charter Communications, Inc. will post 32.51 earnings per share for the current fiscal year.

About Charter Communications

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.