Charter Communications, Inc. (CHTR) Stake Lowered by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the company’s stock after selling 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Charter Communications were worth $7,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Barrett Asset Management LLC raised its stake in shares of Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after buying an additional 216 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Charter Communications by 25.2% in the second quarter. Advisor Partners LLC now owns 3,901 shares of the company’s stock valued at $1,314,000 after buying an additional 785 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Charter Communications by 14.3% in the second quarter. Pictet Asset Management Ltd. now owns 161,060 shares of the company’s stock valued at $55,655,000 after buying an additional 20,168 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Charter Communications by 0.3% in the second quarter. Retirement Systems of Alabama now owns 186,275 shares of the company’s stock valued at $62,747,000 after buying an additional 591 shares in the last quarter. Finally, Korea Investment CORP raised its stake in shares of Charter Communications by 7.2% in the second quarter. Korea Investment CORP now owns 204,129 shares of the company’s stock valued at $68,761,000 after buying an additional 13,696 shares in the last quarter. 77.79% of the stock is owned by hedge funds and other institutional investors.

Charter Communications, Inc. (CHTR) traded down 0.10% during midday trading on Friday, reaching $392.97. The company’s stock had a trading volume of 1,304,255 shares. The stock has a market capitalization of $101.34 billion, a price-to-earnings ratio of 112.57 and a beta of 1.09. The firm has a 50-day moving average price of $364.56 and a 200 day moving average price of $338.53. Charter Communications, Inc. has a 52-week low of $241.50 and a 52-week high of $408.83.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.52 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 company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. During the same period last year, the company earned $0.99 earnings per share. Charter Communications’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts predict that Charter Communications, Inc. will post $0.60 EPS for the current fiscal year.

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A number of equities analysts have commented on CHTR shares. BidaskClub upgraded Charter Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Deutsche Bank AG restated a “buy” rating and issued a $410.00 target price (up from $390.00) on shares of Charter Communications in a research note on Monday, July 31st. CIBC started coverage on Charter Communications in a research note on Friday, June 2nd. They issued a “market perform” rating for the company. Royal Bank Of Canada restated a “buy” rating and issued a $356.00 target price on shares of Charter Communications in a research note on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. started coverage on Charter Communications in a research note on Thursday, June 1st. They issued a “market perform” rating for the company. Eleven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Charter Communications presently has a consensus rating of “Buy” and a consensus price target of $369.96.

In other news, EVP Jonathan Hargis sold 10,976 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following the sale, the executive vice president now directly owns 18,025 shares of the company’s stock, valued at $7,191,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by corporate insiders.

Charter Communications Company Profile

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.

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

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