Charter Communications, Inc. $CHTR Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Charter Communications by 0.8%, owning 143,382 shares worth approximately $52.8 million.
• Charter Communications reported a quarterly EPS of $9.18, missing estimates, while revenue slightly exceeded expectations at $13.77 billion.
• Several analysts have recently upgraded Charter's ratings, with a consensus hold rating and a target price of $404.71.

Hsbc Holdings PLC grew its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 143,382 shares of the company's stock after buying an additional 1,075 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Charter Communications worth $52,808,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SouthState Corp acquired a new position in Charter Communications in the 1st quarter worth about $25,000. ST Germain D J Co. Inc. grew its position in shares of Charter Communications by 1,283.3% in the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of 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 purchasing an additional 41 shares in the last quarter. Strengthening Families & Communities LLC purchased a new stake in shares of Charter Communications in the first quarter valued at approximately $33,000. Finally, Larson Financial Group LLC grew its position in shares of 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 purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Trading Up 0.5%

CHTR opened at $267.98 on Friday. Charter Communications, Inc. has a 52 week low of $254.67 and a 52 week high of $437.06. The business has a fifty day simple moving average of $344.94 and a 200-day simple moving average of $362.38. The firm has a market cap of $36.60 billion, a P/E ratio of 7.34, a P/E/G ratio of 0.60 and a beta of 1.02. 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 (NASDAQ:CHTR - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.49 earnings per share. On average, equities analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, Director Balan Nair purchased 360 shares of the business's stock in a transaction on Thursday, July 31st. The shares were bought 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 directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the purchase, the chief executive officer owned 70,243 shares of the company's stock, valued at $19,183,363.30. This 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 currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CHTR. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Bank of America increased their price objective on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Morgan Stanley increased their price objective on Charter Communications from $385.00 to $415.00 and gave the stock an "equal weight" rating in a research report on Monday, April 28th. Finally, UBS Group lowered their price objective on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Charter Communications has a consensus rating of "Hold" and a consensus target price of $404.71.

Charter Communications 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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