Empire Life Investments Inc. trimmed its position in shares of Charter Communications Inc (NASDAQ:CHTR) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,696 shares of the company’s stock after selling 146 shares during the quarter. Empire Life Investments Inc.’s holdings in Charter Communications were worth $14,812,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Longview Partners Guernsey LTD purchased a new stake in shares of Charter Communications during the fourth quarter worth approximately $846,691,000. Geode Capital Management LLC increased its position in shares of Charter Communications by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock worth $630,980,000 after purchasing an additional 167,729 shares in the last quarter. Northern Trust Corp increased its position in shares of Charter Communications by 1.5% during the fourth quarter. Northern Trust Corp now owns 1,998,946 shares of the company’s stock worth $569,640,000 after purchasing an additional 28,704 shares in the last quarter. Norges Bank purchased a new stake in shares of Charter Communications during the fourth quarter worth approximately $360,022,000. Finally, Morgan Stanley increased its position in shares of Charter Communications by 1.1% during the third quarter. Morgan Stanley now owns 955,767 shares of the company’s stock worth $311,467,000 after purchasing an additional 9,976 shares in the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.
NASDAQ CHTR opened at $374.33 on Friday. Charter Communications Inc has a 1-year low of $259.48 and a 1-year high of $378.36. The company has a market capitalization of $84.45 billion, a P/E ratio of 71.71, a PEG ratio of 1.17 and a beta of 1.40. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.62.
A number of equities analysts have weighed in on CHTR shares. BidaskClub lowered Charter Communications from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. UBS Group boosted their price objective on Charter Communications from $383.00 to $421.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered Charter Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Macquarie lowered Charter Communications from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Finally, TD Securities initiated coverage on Charter Communications in a research note on Wednesday, January 16th. They set a “buy” rating and a $385.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $365.88.
In other Charter Communications news, Director John D. Markley, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $350.09, for a total transaction of $350,090.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig A. Jacobson sold 1,325 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $375.18, for a total value of $497,113.50. Following the transaction, the director now directly owns 12,773 shares of the company’s stock, valued at approximately $4,792,174.14. The disclosure for this sale can be found here. Insiders have sold 4,344 shares of company stock valued at $1,551,491 in the last three months. 0.84% of the stock is currently owned by company insiders.
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, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
Recommended Story: How to use beta for portfolio diversification
Receive News & Ratings for Charter Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charter Communications and related companies with MarketBeat.com's FREE daily email newsletter.