Stockbridge Partners LLC Trims Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Stockbridge Partners LLC lessened its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 48.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 272,520 shares of the company’s stock after selling 258,089 shares during the quarter. Charter Communications comprises 1.8% of Stockbridge Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Stockbridge Partners LLC owned about 0.19% of Charter Communications worth $88,318,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Charter Communications in the first quarter valued at about $11,147,000. Cetera Investment Advisers raised its stake in Charter Communications by 432.3% during the 1st quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock valued at $2,150,000 after acquiring an additional 6,009 shares during the last quarter. Cetera Advisors LLC lifted its position in Charter Communications by 12.2% during the 1st quarter. Cetera Advisors LLC now owns 2,475 shares of the company’s stock worth $719,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC grew its stake in shares of Charter Communications by 359.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,310 shares of the company’s stock valued at $392,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Charter Communications by 109.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock valued at $48,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $389.81 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market capitalization of $55.43 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03. The firm has a 50-day moving average price of $352.12 and a two-hundred day moving average price of $328.36. Charter Communications, Inc. has a twelve month low of $236.08 and a twelve month high of $415.27.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The business had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. During the same period last year, the company posted $8.25 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that Charter Communications, Inc. will post 32.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CHTR shares. Wolfe Research downgraded Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price target for the company. in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of Charter Communications from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Morgan Stanley boosted their price target on shares of Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Pivotal Research lifted their price objective on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $385.00 to $450.00 in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $378.00.

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.