Triple Frond Partners LLC cut its stake in shares of Charter Communications (NASDAQ:CHTR) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 463,785 shares of the company’s stock after selling 142,244 shares during the quarter. Charter Communications accounts for about 16.2% of Triple Frond Partners LLC’s holdings, making the stock its 2nd biggest holding. Triple Frond Partners LLC owned approximately 0.20% of Charter Communications worth $144,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in CHTR. Bank of Montreal Can lifted its position in Charter Communications by 44.0% during the fourth quarter. Bank of Montreal Can now owns 124,760 shares of the company’s stock valued at $41,913,000 after purchasing an additional 38,118 shares during the last quarter. First Manhattan Co. lifted its position in Charter Communications by 9.5% during the fourth quarter. First Manhattan Co. now owns 8,613 shares of the company’s stock valued at $2,893,000 after purchasing an additional 749 shares during the last quarter. S&CO Inc. lifted its position in Charter Communications by 1.1% during the fourth quarter. S&CO Inc. now owns 20,192 shares of the company’s stock valued at $6,784,000 after purchasing an additional 210 shares during the last quarter. Eastern Bank bought a new stake in Charter Communications during the fourth quarter valued at approximately $414,000. Finally, FNY Managed Accounts LLC purchased a new position in shares of Charter Communications during the fourth quarter worth approximately $1,314,000. Institutional investors and hedge funds own 69.51% of the company’s stock.
Shares of NASDAQ CHTR opened at $266.05 on Monday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 1.43. Charter Communications has a 52 week low of $250.10 and a 52 week high of $408.83. The firm has a market capitalization of $64.16 billion, a P/E ratio of 100.40, a PEG ratio of 3.21 and a beta of 1.20.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, April 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.44 by $0.26. Charter Communications had a net margin of 23.55% and a return on equity of 1.15%. The company had revenue of $10.66 billion for the quarter, compared to the consensus estimate of $10.62 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts anticipate that Charter Communications will post 4 earnings per share for the current fiscal year.
CHTR has been the topic of several research reports. Cowen initiated coverage on shares of Charter Communications in a research note on Monday, March 26th. They set an “outperform” rating on the stock. Zacks Investment Research downgraded shares of Charter Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. KeyCorp initiated coverage on shares of Charter Communications in a research note on Wednesday, May 16th. They set an “equal weight” rating on the stock. Wells Fargo raised shares of Charter Communications from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $387.50 to $460.00 in a research note on Monday, February 5th. Finally, Pivotal Research decreased their price target on shares of Charter Communications from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Friday, April 27th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $388.82.
About Charter Communications
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
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