Sunbelt Securities Inc. Sells 56 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Sunbelt Securities Inc. lowered its position in Charter Communications, Inc. (NASDAQ:CHTR) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 178 shares of the company’s stock after selling 56 shares during the period. Sunbelt Securities Inc.’s holdings in Charter Communications were worth $53,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CHTR. Creative Planning raised its holdings in Charter Communications by 32.0% during the 2nd quarter. Creative Planning now owns 10,820 shares of the company’s stock worth $3,235,000 after buying an additional 2,624 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Charter Communications during the second quarter worth $1,786,000. MBB Public Markets I LLC bought a new stake in Charter Communications in the 2nd quarter valued at $2,123,000. DoubleLine ETF Adviser LP boosted its stake in Charter Communications by 24.4% in the 2nd quarter. DoubleLine ETF Adviser LP now owns 12,943 shares of the company’s stock worth $3,869,000 after purchasing an additional 2,540 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Charter Communications by 5.7% during the 2nd quarter. APG Asset Management N.V. now owns 61,412 shares of the company’s stock worth $17,131,000 after purchasing an additional 3,336 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Down 2.1 %

CHTR stock opened at $322.39 on Friday. The business’s 50 day simple moving average is $345.45 and its 200 day simple moving average is $304.35. Charter Communications, Inc. has a 1-year low of $236.08 and a 1-year high of $458.30. The firm has a market capitalization of $46.43 billion, a PE ratio of 10.43, a PEG ratio of 0.61 and a beta of 1.05. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84.

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

Wall Street Analysts Forecast Growth

CHTR has been the subject of several recent research reports. Barclays upped their price objective on Charter Communications from $250.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Royal Bank of Canada assumed coverage on shares of Charter Communications in a research note on Thursday, September 19th. They set a “sector perform” rating and a $345.00 price target for the company. Raymond James cut shares of Charter Communications from a “market perform” rating to an “underperform” rating in a report on Monday, July 29th. Bank of America lifted their price target on shares of Charter Communications from $360.00 to $385.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Morgan Stanley increased their price objective on shares of Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of “Hold” and a consensus price target of $356.41.

Charter Communications 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.