PDS Planning Inc Acquires New Shares in Charter Communications, Inc. $CHTR

by · The Markets Daily

PDS Planning Inc acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 579 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its stake in shares of Charter Communications by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company’s stock worth $1,153,000 after purchasing an additional 25 shares in the last quarter. Allworth Financial LP increased its stake in shares of Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company’s stock worth $104,000 after purchasing an additional 27 shares in the last quarter. Hemington Wealth Management increased its stake in shares of Charter Communications by 24.3% in the 1st quarter. Hemington Wealth Management now owns 143 shares of the company’s stock worth $52,000 after purchasing an additional 28 shares in the last quarter. Cooper Financial Group increased its stake in shares of Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company’s stock worth $515,000 after purchasing an additional 28 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Charter Communications by 1.1% in the 1st quarter. Brown Advisory Inc. now owns 2,704 shares of the company’s stock worth $997,000 after purchasing an additional 29 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

Charter Communications Stock Down 2.1%

CHTR opened at $259.49 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a 52 week low of $251.80 and a 52 week high of $437.06. The firm has a 50-day simple moving average of $266.61 and a two-hundred day simple moving average of $338.90. The company has a market capitalization of $35.44 billion, a PE ratio of 7.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the previous year, the business posted $8.49 EPS. The firm’s revenue was up .6% on a year-over-year basis. Analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In other news, Director Balan Nair acquired 360 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $274.21 per share, with a total value of $98,715.60. Following the transaction, the director directly owned 9,622 shares of the company’s stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher L. Winfrey acquired 3,670 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CHTR shares. Wolfe Research upgraded Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Charter Communications in a report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on shares of Charter Communications in a report on Thursday, August 21st. They issued an “equal weight” rating and a $300.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charter Communications from $370.00 to $325.00 and set a “hold” rating for the company in a report on Monday, October 6th. Finally, Bank of America dropped their target price on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $373.71.

Get Our Latest Research Report on CHTR

About Charter Communications

(Free Report)

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.

Further Reading

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