State of Michigan Retirement System Trims Position in Charter Communications, Inc. (NASDAQ:CHTR)

State of Michigan Retirement System cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,197 shares of the company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Charter Communications were worth $8,980,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Charter Communications in the third quarter valued at $28,000. Avior Wealth Management LLC increased its stake in shares of Charter Communications by 104.7% during the 4th quarter. Avior Wealth Management LLC now owns 88 shares of the company’s stock valued at $30,000 after acquiring an additional 45 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Charter Communications during the 4th quarter worth about $32,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Charter Communications during the 4th quarter worth about $45,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Charter Communications in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analysts Set New Price Targets

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

Charter Communications Trading Up 2.7 %

NASDAQ CHTR opened at $378.42 on Thursday. The stock has a market cap of $53.81 billion, a P/E ratio of 10.82, a PEG ratio of 0.44 and a beta of 1.13. The company’s fifty day simple moving average is $353.56 and its 200-day simple moving average is $354.12. 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 52 week low of $236.08 and a 52 week high of $415.27.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, February 7th. The company reported $10.10 EPS for the quarter, topping analysts’ consensus estimates 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 company posted $7.07 EPS. Equities research analysts predict that Charter Communications, Inc. will post 38.16 EPS 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.