Los Angeles Capital Management LLC Sells 2,314 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Posted by Defense World Staff on May 3rd, 2023

Los Angeles Capital Management LLC reduced its position in Charter Communications, Inc. (NASDAQ:CHTR – Get Rating) by 38.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,718 shares of the company’s stock after selling 2,314 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Charter Communications were worth $1,261,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CHTR. Ellevest Inc. lifted its position in Charter Communications by 54.2% during the fourth quarter. Ellevest Inc. now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 26 shares during the last quarter. Accurate Wealth Management LLC bought a new stake in shares of Charter Communications during the 4th quarter valued at $28,000. MCF Advisors LLC boosted its holdings in shares of Charter Communications by 69.5% during the 3rd quarter. MCF Advisors LLC now owns 100 shares of the company’s stock valued at $30,000 after buying an additional 41 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Charter Communications by 292.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 110 shares of the company’s stock valued at $37,000 after buying an additional 82 shares in the last quarter. Finally, MADDEN SECURITIES Corp bought a new position in Charter Communications in the 4th quarter worth about $42,000. 66.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Thomas Rutledge sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $383.64, for a total transaction of $11,509,200.00. Following the completion of the transaction, the chairman now directly owns 17,493 shares in the company, valued at approximately $6,711,014.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHTR. Morgan Stanley dropped their price target on shares of Charter Communications from $460.00 to $420.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Royal Bank of Canada boosted their target price on Charter Communications from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Friday, March 31st. JPMorgan Chase & Co. decreased their target price on Charter Communications from $470.00 to $450.00 in a research report on Sunday, January 29th. Benchmark decreased their target price on Charter Communications from $600.00 to $575.00 in a research report on Monday. Finally, Cfra raised Charter Communications from an “underweight” rating to a “market weight” rating in a research report on Wednesday, March 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $482.43.

Charter Communications Trading Down 2.5 %

CHTR stock opened at $357.23 on Wednesday. Charter Communications, Inc. has a 1-year low of $297.66 and a 1-year high of $515.66. The company has a debt-to-equity ratio of 7.66, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $54.53 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.44 and a beta of 1.10. The business has a 50 day simple moving average of $350.73 and a two-hundred day simple moving average of $363.12.

Charter Communications (NASDAQ:CHTR – Get Rating) last posted its earnings results on Friday, April 28th. The company reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.56). The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.61 billion. Charter Communications had a net margin of 9.36% and a return on equity of 37.20%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.90 earnings per share. Research analysts anticipate that Charter Communications, Inc. will post 32.27 EPS for the current fiscal year.

Charter Communications Profile

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Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.