Allspring Global Investments Holdings LLC Sells 217 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Allspring Global Investments Holdings LLC lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,685 shares of the company’s stock after selling 217 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Charter Communications were worth $1,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CHTR. Institute for Wealth Management LLC. raised its holdings in shares of Charter Communications by 38.1% during the second quarter. Institute for Wealth Management LLC. now owns 1,590 shares of the company’s stock valued at $475,000 after purchasing an additional 439 shares during the period. LRI Investments LLC boosted its holdings in Charter Communications by 4,300.0% in the second quarter. LRI Investments LLC now owns 220 shares of the company’s stock worth $66,000 after acquiring an additional 215 shares in the last quarter. Family Firm Inc. acquired a new stake in Charter Communications in the second quarter valued at approximately $60,000. 1620 Investment Advisors Inc. bought a new stake in shares of Charter Communications during the second quarter valued at approximately $73,000. Finally, Fortis Capital Management LLC raised its position in shares of Charter Communications by 150.4% during the second quarter. Fortis Capital Management LLC now owns 15,895 shares of the company’s stock worth $4,752,000 after purchasing an additional 9,547 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wolfe Research lowered shares of Charter Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 31st. Bank of America raised their price target on shares of Charter Communications from $360.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Raymond James downgraded Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their price objective on Charter Communications from $260.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, TD Cowen lifted their target price on Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $360.93.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $346.42 on Wednesday. The company has a market capitalization of $49.89 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.64 and a beta of 1.04. The business has a fifty day simple moving average of $335.87 and a two-hundred day simple moving average of $298.53. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.39. Charter Communications, Inc. has a 1 year low of $236.08 and a 1 year high of $458.30.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data 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. The business had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $8.05 EPS. On average, analysts expect that Charter Communications, Inc. will post 32.52 earnings per share for the current year.

Charter Communications Company 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.