Charter Communications (NASDAQ:CHTR) Hits New 12-Month Low - Here's Why

Key Points

• Charter Communications' stock has reached a new 52-week low, trading as low as $251.80, significantly down from its previous close of $261.50.
• Recent analyst reports reflect mixed sentiments, with over half of the analysts rating the stock as "Hold", while price targets range from $275.00 to $510.00.
• In a sign of confidence, CEO Christopher L. Winfrey increased his stake in the company by purchasing 3,670 shares, valued at over $1 million.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $251.80 and last traded at $254.53, with a volume of 230854 shares traded. The stock had previously closed at $261.50.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CHTR shares. UBS Group decreased their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a research note on Friday, May 16th. Barclays decreased their price target on Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a research note on Monday, July 28th. Raymond James Financial raised Charter Communications from an "underperform" rating to a "market perform" rating in a research note on Monday, May 19th. Finally, Loop Capital raised Charter Communications from a "hold" rating to a "buy" rating and increased their price target for the stock from $430.00 to $510.00 in a research note on Monday, May 19th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $394.61.

Charter Communications Price Performance

The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The firm has a market cap of $35.94 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The stock has a 50-day moving average of $318.13 and a two-hundred day moving average of $355.74.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share 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 company had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the business earned $8.49 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Insider Transactions at Charter Communications

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Charter Communications in the second quarter worth $1,145,387,000. GAMMA Investing LLC boosted its stake in Charter Communications by 43,296.0% in the first quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock worth $316,176,000 after purchasing an additional 855,961 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Charter Communications by 53.6% in the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock worth $851,331,000 after purchasing an additional 806,145 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Charter Communications by 48.8% in the second quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company's stock worth $304,674,000 after purchasing an additional 244,324 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Charter Communications by 15.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,575,818 shares of the company's stock worth $644,210,000 after purchasing an additional 209,869 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

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.

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