Summit Trail Advisors LLC Sells 294 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Summit Trail Advisors LLC trimmed its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,705 shares of the company’s stock after selling 294 shares during the period. Summit Trail Advisors LLC’s holdings in Charter Communications were worth $510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. lifted its position in Charter Communications by 50.8% in the first quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock worth $2,658,000 after buying an additional 3,080 shares during the last quarter. Sands Capital Management LLC lifted its holdings in shares of Charter Communications by 5.7% in the 4th quarter. Sands Capital Management LLC now owns 319,860 shares of the company’s stock worth $124,323,000 after acquiring an additional 17,112 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Charter Communications during the 2nd quarter worth about $7,171,000. Oakcliff Capital Partners LP grew its holdings in Charter Communications by 8.2% during the 4th quarter. Oakcliff Capital Partners LP now owns 38,474 shares of the company’s stock valued at $14,954,000 after purchasing an additional 2,900 shares during the last quarter. Finally, FORA Capital LLC raised its position in Charter Communications by 45.8% in the 1st quarter. FORA Capital LLC now owns 20,743 shares of the company’s stock worth $6,029,000 after purchasing an additional 6,519 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $331.62 on Tuesday. The company has a market capitalization of $47.76 billion, a PE ratio of 10.73, a P/E/G ratio of 0.61 and a beta of 1.05. The company has a 50-day simple moving average of $344.95 and a two-hundred day simple moving average of $302.84. Charter Communications, Inc. has a one year low of $236.08 and a one year high of $458.30. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.39 and a current ratio of 0.39.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter in the prior year, the company posted $8.05 earnings per share. Charter Communications’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts expect that Charter Communications, Inc. will post 32.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Citigroup raised Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective on the stock in a research report on Wednesday, September 11th. Pivotal Research lifted their target price on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Raymond James cut shares of Charter Communications from a “market perform” rating to an “underperform” rating in a report on Monday, July 29th. Finally, Rosenblatt Securities lifted their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Charter Communications has a consensus rating of “Hold” and a consensus price target of $359.94.

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.