Armstrong Fleming & Moore Inc Takes Position in Charter Communications, Inc. $CHTR

Key Points

• Armstrong Fleming & Moore Inc has acquired a new position in Charter Communications, purchasing 2,324 shares valued at approximately $950,000 in the second quarter.
• Charter Communications reported $9.18 earnings per share for the last quarter, missing analysts' estimates of $10.06, with a revenue of $13.77 billion.
• Analyst ratings for Charter Communications indicate a consensus rating of "Hold", with a price target ranging from $275.00 to $373.71 based on multiple research reports.

Armstrong Fleming & Moore Inc acquired a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,324 shares of the company's stock, valued at approximately $950,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. increased its position in Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock worth $26,000 after buying an additional 61 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Charter Communications in the second quarter valued at $28,000. SouthState Corp purchased a new stake in shares of Charter Communications in the first quarter valued at $25,000. Family CFO Inc purchased a new stake in shares of Charter Communications in the second quarter valued at $33,000. Finally, SBI Securities Co. Ltd. boosted its holdings in Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock valued at $31,000 after acquiring an additional 41 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Stock Performance

CHTR opened at $274.37 on Thursday. The company has a market capitalization of $37.48 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.62 and a beta of 1.05. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. Charter Communications, Inc. has a 1-year low of $251.80 and a 1-year high of $437.06. The business has a 50 day moving average price of $266.80 and a two-hundred day moving average price of $341.01.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its 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). The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company earned $8.49 earnings per share. Research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey bought 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Balan Nair bought 360 shares of the business's stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the purchase, the director owned 9,622 shares in the company, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CHTR shares. Barclays reduced their target price on Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a report on Monday, July 28th. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Charter Communications in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on Charter Communications from $370.00 to $325.00 and set a "hold" rating on the stock in a research note on Monday. Finally, Wells Fargo & Company began coverage on Charter Communications in a report on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $373.71.

About Charter Communications

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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