Charter Communications, Inc. (NASDAQ:CHTR) Stake Lessened by State of Michigan Retirement System

State of Michigan Retirement System trimmed its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 26,197 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Charter Communications were worth $8,980,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lind Value II ApS acquired a new stake in shares of Charter Communications during the 4th quarter valued at approximately $9,743,000. Oddo BHF Asset Management Sas bought a new stake in Charter Communications during the third quarter valued at $1,345,000. Worldquant Millennium Advisors LLC raised its holdings in shares of Charter Communications by 193.8% during the third quarter. Worldquant Millennium Advisors LLC now owns 40,092 shares of the company’s stock worth $12,993,000 after purchasing an additional 26,446 shares during the period. Caprock Group LLC lifted its position in shares of Charter Communications by 39.7% in the 4th quarter. Caprock Group LLC now owns 3,517 shares of the company’s stock worth $1,206,000 after buying an additional 999 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Charter Communications by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock valued at $1,052,868,000 after buying an additional 148,003 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHTR has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on shares of Charter Communications from $380.00 to $385.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. KeyCorp upgraded Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and issued a $450.00 target price on shares of Charter Communications in a research report on Friday, January 31st. Barclays boosted their price target on shares of Charter Communications from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Finally, BNP Paribas raised shares of Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 price objective on the stock in a report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $384.42.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $378.42 on Thursday. The company has a 50-day moving average of $353.56 and a 200-day moving average of $354.12. The firm has a market cap of $53.81 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.44 and a beta of 1.13. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 4.73. Charter Communications, Inc. has a twelve month low of $236.08 and a twelve month high of $415.27.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, February 7th. The company reported $10.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.14 by $0.96. Charter Communications had a net margin of 9.23% and a return on equity of 29.01%. During the same period last year, the business earned $7.07 EPS. Analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Charter Communications Profile

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.