Amica Mutual Insurance Co. Decreases Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Amica Mutual Insurance Co. cut its position in Charter Communications, Inc. (NASDAQ:CHTR) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,791 shares of the company’s stock after selling 1,905 shares during the period. Charter Communications accounts for 1.0% of Amica Mutual Insurance Co.’s investment portfolio, making the stock its 26th largest holding. Amica Mutual Insurance Co.’s holdings in Charter Communications were worth $8,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CHTR. Parnassus Investments LLC purchased a new position in Charter Communications in the third quarter valued at approximately $508,684,000. Pzena Investment Management LLC grew its position in shares of Charter Communications by 21.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,459,148 shares of the company’s stock valued at $641,762,000 after buying an additional 253,324 shares during the last quarter. Allen Investment Management LLC raised its stake in Charter Communications by 25.4% during the 3rd quarter. Allen Investment Management LLC now owns 873,714 shares of the company’s stock worth $384,277,000 after acquiring an additional 177,224 shares in the last quarter. Morgan Stanley lifted its position in Charter Communications by 15.8% in the third quarter. Morgan Stanley now owns 1,186,738 shares of the company’s stock valued at $521,952,000 after acquiring an additional 161,830 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its stake in Charter Communications by 671.5% in the third quarter. Quadrature Capital Ltd now owns 140,296 shares of the company’s stock valued at $61,755,000 after acquiring an additional 122,110 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CHTR shares. Pivotal Research decreased their target price on Charter Communications from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Monday. Benchmark lowered their target price on shares of Charter Communications from $490.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Charter Communications from $375.00 to $320.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Citigroup decreased their price target on shares of Charter Communications from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Barclays dropped their price objective on shares of Charter Communications from $280.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $356.47.

Charter Communications Price Performance

Shares of CHTR traded up $5.15 during mid-day trading on Monday, hitting $259.76. The company’s stock had a trading volume of 1,206,732 shares, compared to its average volume of 1,593,409. The company has a current ratio of 0.40, a quick ratio of 0.31 and a debt-to-equity ratio of 6.28. Charter Communications, Inc. has a 1-year low of $236.08 and a 1-year high of $458.30. The firm has a market capitalization of $37.72 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.45 and a beta of 0.96. The firm has a 50-day simple moving average of $280.49 and a 200 day simple moving average of $345.42.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, April 26th. The company reported $7.55 EPS for the quarter, missing the consensus estimate of $7.78 by ($0.23). The company had revenue of $13.68 billion for the quarter, compared to analysts’ expectations of $13.75 billion. Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. Charter Communications’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.65 earnings per share. Analysts predict that Charter Communications, Inc. will post 31.89 EPS for the current fiscal year.

Charter Communications Company 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.