Charter Communications, Inc. (CHTR) Stake Decreased by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 376,058 shares of the company’s stock after selling 14,950 shares during the period. Alliancebernstein L.P. owned about 0.15% of Charter Communications worth $126,675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its holdings in shares of Charter Communications by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 835 shares of the company’s stock worth $273,000 after buying an additional 6 shares in the last quarter. RMB Capital Management LLC increased its holdings in shares of Charter Communications by 1.0% during the first quarter. RMB Capital Management LLC now owns 815 shares of the company’s stock worth $267,000 after buying an additional 8 shares in the last quarter. Allen Operations LLC increased its holdings in shares of Charter Communications by 0.8% during the first quarter. Allen Operations LLC now owns 979 shares of the company’s stock worth $320,000 after buying an additional 8 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Charter Communications by 4.9% during the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after buying an additional 16 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Charter Communications by 1.2% during the first quarter. Teacher Retirement System of Texas now owns 2,309 shares of the company’s stock worth $756,000 after buying an additional 28 shares in the last quarter. 74.15% of the stock is owned by institutional investors.

In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $399.00, for a total value of $4,379,424.00. Following the completion of the transaction, the executive vice president now directly owns 18,025 shares in the company, valued at approximately $7,191,975. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

CHTR has been the subject of several recent analyst reports. Telsey Advisory Group lowered shares of Charter Communications from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $450.00 to $340.00 in a report on Tuesday, September 5th. Royal Bank Of Canada raised their price objective on shares of Charter Communications from $356.00 to $420.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Pivotal Research reaffirmed a “buy” rating on shares of Charter Communications in a report on Sunday, July 30th. Morgan Stanley raised their price objective on shares of Charter Communications from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Charter Communications in a report on Wednesday, June 28th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $375.73.

Shares of Charter Communications, Inc. (CHTR) opened at 392.90 on Friday. The firm has a market cap of $101.32 billion, a price-to-earnings ratio of 112.55 and a beta of 1.10. The firm’s 50-day moving average is $386.44 and its 200-day moving average is $345.40. Charter Communications, Inc. has a 12-month low of $241.50 and a 12-month high of $408.83.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.29. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. During the same quarter last year, the company posted $0.99 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Analysts predict that Charter Communications, Inc. will post $0.60 earnings per share for the current fiscal year.

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About Charter Communications

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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