Tremblant Capital Group Lowers Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Tremblant Capital Group cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,763 shares of the company’s stock after selling 3,162 shares during the quarter. Charter Communications makes up about 3.0% of Tremblant Capital Group’s investment portfolio, making the stock its 16th largest position. Tremblant Capital Group owned approximately 0.07% of Charter Communications worth $28,031,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CHTR. Capital International Investors raised its holdings in Charter Communications by 53.6% in the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after purchasing an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Charter Communications by 6.1% in the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock worth $903,932,000 after buying an additional 175,130 shares during the period. Parnassus Investments LLC grew its stake in shares of Charter Communications by 40.1% during the 4th quarter. Parnassus Investments LLC now owns 1,620,542 shares of the company’s stock worth $629,872,000 after purchasing an additional 463,968 shares during the period. Putnam Investments LLC increased its holdings in Charter Communications by 24.5% in the fourth quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after buying an additional 242,448 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Charter Communications by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 712,550 shares of the company’s stock worth $212,998,000 after acquiring an additional 69,959 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CHTR shares. Barclays upped their price target on shares of Charter Communications from $250.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Wolfe Research cut shares of Charter Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Citigroup raised shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective for the company in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada assumed coverage on shares of Charter Communications in a research report on Thursday, September 19th. They set a “sector perform” rating and a $345.00 price objective for the company. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $359.94.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $331.62 on Tuesday. The company’s fifty day moving average price is $344.95 and its 200 day moving average price is $302.84. Charter Communications, Inc. has a 12 month low of $236.08 and a 12 month high of $458.30. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $47.76 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.61 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.98 by $0.51. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The company had revenue of $13.69 billion for the quarter, compared to the consensus estimate of $13.59 billion. During the same period last year, the firm posted $8.05 EPS. Charter Communications’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts predict 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.