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CCM Investment Group LLC Invests $2.90 Million in Charter Communications, Inc. (NASDAQ:CHTR)

Charter Communications logo with Consumer Discretionary background

Key Points

  • CCM Investment Group LLC made a new investment worth approximately $2.9 million in Charter Communications, acquiring 7,859 shares during the first quarter.
  • Charter's CEO, Christopher L. Winfrey, purchased 3,670 shares at an average price of $273.10, increasing his total shares to approximately 70,243.
  • Analysts have mixed ratings for Charter Communications, with the consensus rating being a "Hold" and an average target price of $410.59.
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CCM Investment Group LLC acquired a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,859 shares of the company's stock, valued at approximately $2,900,000.

A number of other large investors have also made changes to their positions in the stock. ST Germain D J Co. Inc. raised its stake in Charter Communications by 1,283.3% during the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock worth $31,000 after purchasing an additional 77 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Charter Communications by 93.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after buying an additional 41 shares during the last quarter. Strengthening Families & Communities LLC purchased a new position in shares of Charter Communications in the 1st quarter worth $33,000. Larson Financial Group LLC boosted its holdings in Charter Communications by 70.2% in the first quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after acquiring an additional 40 shares during the last quarter. Finally, Costello Asset Management INC purchased a new stake in Charter Communications during the first quarter valued at about $37,000. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Stock Down 2.5%

CHTR stock traded down $6.77 during midday trading on Thursday, hitting $262.23. 999,752 shares of the company's stock were exchanged, compared to its average volume of 1,481,650. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a 12-month low of $254.67 and a 12-month high of $437.06. The firm has a 50 day moving average price of $360.66 and a 200-day moving average price of $365.94. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing the consensus estimate 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%. Charter Communications's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.49 EPS. On average, analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Wall Street Analyst Weigh In

CHTR has been the topic of a number of research reports. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a report on Friday, June 20th. Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on shares of Charter Communications from $380.00 to $400.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research report on Monday, July 28th. Finally, Bank of America raised their target price on shares of Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $410.59.

View Our Latest Research Report on Charter Communications

Insider Buying and Selling at Charter Communications

In related news, Director Balan Nair purchased 360 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,670 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $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. 0.83% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for Charter Communications (NASDAQ:CHTR)

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