Charter Communications, Inc. (NASDAQ:CHTR) Shares Sold by DNB Asset Management AS

DNB Asset Management AS cut its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 53.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 16,527 shares of the company’s stock after selling 18,673 shares during the period. DNB Asset Management AS’s holdings in Charter Communications were worth $4,941,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital International Investors raised its stake in 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 during the period. Pzena Investment Management LLC increased its holdings in shares of Charter Communications by 96.5% during the 1st quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after buying an additional 1,399,034 shares during the last quarter. Parnassus Investments LLC raised its position in shares of 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 buying an additional 463,968 shares during the period. Putnam Investments LLC boosted its holdings in Charter Communications by 24.5% in the fourth quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after acquiring an additional 242,448 shares during the last quarter. Finally, Norges Bank purchased a new stake in Charter Communications during the fourth quarter valued at about $310,727,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Up 1.1 %

Shares of NASDAQ:CHTR opened at $360.70 on Wednesday. The firm has a market cap of $51.49 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. The company has a fifty day simple moving average of $307.03 and a 200 day simple moving average of $295.49. 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, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, topping 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 business had revenue of $13.69 billion during the quarter, compared to the consensus estimate of $13.59 billion. During the same period last year, the firm earned $8.05 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Charter Communications, Inc. will post 32.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHTR. The Goldman Sachs Group began coverage on Charter Communications in a report on Monday, July 1st. They issued a “sell” rating and a $250.00 price objective on the stock. Loop Capital decreased their price objective on shares of Charter Communications from $335.00 to $285.00 and set a “hold” rating for the company in a research note on Monday, April 29th. TD Cowen raised their target price on shares of Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their price target on Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Raymond James cut Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $360.93.

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.