Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Charter Communications, Inc. (NASDAQ:CHTR)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 9.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,259 shares of the company’s stock after selling 324 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Charter Communications were worth $947,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CHTR. Capital International Investors increased its position in shares of Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after purchasing an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC grew its holdings in 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 buying an additional 1,399,034 shares in the last quarter. Norges Bank purchased a new stake in Charter Communications in the 4th quarter valued at $310,727,000. Parnassus Investments LLC grew its holdings in Charter Communications by 40.1% in the 4th quarter. Parnassus Investments LLC now owns 1,620,542 shares of the company’s stock valued at $629,872,000 after buying an additional 463,968 shares in the last quarter. Finally, Putnam Investments LLC grew its holdings in Charter Communications by 24.5% in the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after buying an additional 242,448 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CHTR shares. Barclays upped their target price on Charter Communications from $250.00 to $300.00 and gave the company an “underweight” rating in a report on Monday. The Goldman Sachs Group initiated coverage on Charter Communications in a research note on Monday, July 1st. They issued a “sell” rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on Charter Communications from $375.00 to $320.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Loop Capital decreased their price target on Charter Communications from $335.00 to $285.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Finally, Wells Fargo & Company upped their price target on Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Charter Communications currently has a consensus rating of “Hold” and an average price target of $354.93.

Charter Communications Stock Up 3.5 %

CHTR stock traded up $13.00 during mid-day trading on Monday, reaching $380.62. The company had a trading volume of 936,197 shares, compared to its average volume of 1,469,645. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.40 and a current ratio of 0.39. The company has a market capitalization of $54.82 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.64 and a beta of 1.04. The firm has a fifty day simple moving average of $292.90 and a 200 day simple moving average of $295.14. Charter Communications, Inc. has a fifty-two week low of $236.08 and a fifty-two week high of $458.30.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The company had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. During the same quarter last year, the company earned $8.05 EPS. Charter Communications’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts forecast that Charter Communications, Inc. will post 30.5 earnings per share 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.