Coronation Fund Managers Ltd. Sells 3,542 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Coronation Fund Managers Ltd. reduced its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,878 shares of the company’s stock after selling 3,542 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Charter Communications were worth $7,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CVA Family Office LLC grew its stake in Charter Communications by 5,500.0% during the second quarter. CVA Family Office LLC now owns 112 shares of the company’s stock worth $33,000 after buying an additional 110 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Charter Communications in the first quarter valued at approximately $34,000. Riverview Trust Co acquired a new position in Charter Communications during the first quarter valued at approximately $40,000. Massmutual Trust Co. FSB ADV lifted its stake in Charter Communications by 109.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock worth $48,000 after purchasing an additional 83 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Charter Communications in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHTR. TD Cowen boosted their price target on Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a 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. The Goldman Sachs Group assumed coverage on shares of Charter Communications in a research note on Monday, July 1st. They issued a “sell” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Charter Communications from $300.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company raised their target price on shares of Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $356.41.

Charter Communications Price Performance

Shares of CHTR opened at $328.95 on Wednesday. The business’s fifty day moving average is $344.98 and its 200 day moving average is $304.05. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. The stock has a market cap of $47.38 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.61 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. The firm had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $8.05 earnings per share. Sell-side analysts anticipate that Charter Communications, Inc. will post 32.52 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.