Insider Buying: Charter Communications, Inc. (CHTR) CFO Acquires 3,100 Shares of Stock
Charter Communications, Inc. (NASDAQ:CHTR) CFO Christopher L. Winfrey bought 3,100 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were acquired at an average cost of $323.61 per share, with a total value of $1,003,191.00. Following the purchase, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $16,153,316.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Charter Communications, Inc. (CHTR) traded up 3.15% during trading on Tuesday, hitting $334.17. The stock had a trading volume of 3,727,221 shares. The stock’s 50-day moving average price is $359.27 and its 200 day moving average price is $354.31. The firm has a market capitalization of $86.18 billion, a P/E ratio of 95.72 and a beta of 1.10. Charter Communications, Inc. has a 1-year low of $241.50 and a 1-year high of $408.83.
Charter Communications (NASDAQ:CHTR) last announced its earnings results on Thursday, October 26th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.77). Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The company had revenue of $10.46 billion during the quarter, compared to the consensus estimate of $10.49 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Charter Communications’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Charter Communications, Inc. will post $0.60 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its holdings in 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 purchasing an additional 16 shares during the period. Parallel Advisors LLC increased its stake in 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. Huntington National Bank purchased a new stake in Charter Communications in the 3rd quarter worth $128,000. Barrett Asset Management LLC increased its stake in 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. Finally, Bessemer Group Inc. increased its stake in 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. 74.06% of the stock is currently owned by institutional investors.
CHTR has been the subject of several recent analyst reports. Citigroup Inc. raised their target price on Charter Communications from $378.00 to $456.00 and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. UBS AG reaffirmed a “buy” rating and set a $450.00 target price (up previously from $380.00) on shares of Charter Communications in a research note on Monday, August 14th. Pivotal Research reaffirmed a “buy” rating on shares of Charter Communications in a research note on Sunday, July 30th. Deutsche Bank AG reiterated a “buy” rating and issued a $410.00 price target (up previously from $390.00) on shares of Charter Communications in a report on Monday, July 31st. Finally, BidaskClub upgraded Charter Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $379.18.
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.
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