Riverhead Capital Management LLC Reduces Stake in Charter Communications, Inc. (CHTR)

Riverhead Capital Management LLC lessened its position in Charter Communications, Inc. (NASDAQ:CHTR) by 47.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,560 shares of the company’s stock after selling 1,421 shares during the period. Riverhead Capital Management LLC’s holdings in Charter Communications were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHTR. Cornerstone Advisors Inc. raised its stake in shares of Charter Communications by 4.9% in the 2nd 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. Parallel Advisors LLC raised its stake in shares of Charter Communications by 43.3% in the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock worth $121,000 after buying an additional 93 shares in the last quarter. Barrett Asset Management LLC raised its stake in shares of Charter Communications by 118.7% in the 2nd quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock worth $134,000 after buying an additional 216 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Charter Communications by 50.7% in the 2nd quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after buying an additional 151 shares in the last quarter. Finally, Rational Advisors LLC bought a new stake in shares of Charter Communications in the 2nd quarter worth $168,000. 74.09% of the stock is currently owned by institutional investors.

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Charter Communications, Inc. (NASDAQ CHTR) opened at 367.01 on Thursday. The stock’s 50 day moving average price is $389.33 and its 200-day moving average price is $348.25. Charter Communications, Inc. has a one year low of $241.50 and a one year high of $408.83. The stock has a market cap of $94.65 billion, a P/E ratio of 105.13 and a beta of 1.10.

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

In other news, EVP Jonathan Hargis sold 10,976 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was 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 owns 18,025 shares in the company, valued at approximately $7,191,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

CHTR has been the topic of a number of research reports. Royal Bank Of Canada reissued a “buy” rating and issued a $356.00 price objective on shares of Charter Communications in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. initiated coverage on Charter Communications in a research note on Thursday, June 1st. They issued a “market perform” rating on the stock. CIBC initiated coverage on Charter Communications in a research note on Friday, June 2nd. They issued a “market perform” rating on the stock. BidaskClub lowered Charter Communications from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Charter Communications in a research report on Wednesday, June 28th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $379.19.

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.

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

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