Russell Investments Group Ltd. Acquires 4,112 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Russell Investments Group Ltd. increased its holdings in Charter Communications by 2.6% in the first quarter, bringing their total shares to 163,887, valued at approximately $60 million.
• Insiders at Charter, including CEO Christopher L. Winfrey, have recently shown confidence by purchasing shares, with Winfrey acquiring 3,670 shares for around $1 million.
• Several analysts have provided mixed ratings on Charter, with upgrades from firms like Sanford C. Bernstein and Loop Capital, while others like Barclays have downgraded their price targets.

Russell Investments Group Ltd. grew its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,887 shares of the company's stock after purchasing an additional 4,112 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Charter Communications worth $60,402,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SouthState Corp bought a new position in shares of Charter Communications in the first quarter worth about $25,000. ST Germain D J Co. Inc. increased its position in Charter Communications by 1,283.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock worth $31,000 after buying an additional 77 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Charter Communications by 93.2% during the first 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 bought a new stake in shares of Charter Communications in the first quarter valued at about $33,000. Finally, Larson Financial Group LLC grew its position in Charter Communications by 70.2% during the first quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after buying an additional 40 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Up 1.7%

CHTR traded up $4.60 during trading on Friday, reaching $267.80. 1,697,732 shares of the stock were exchanged, compared to its average volume of 2,785,035. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The stock's 50 day moving average price is $355.53 and its two-hundred day moving average price is $364.59. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The stock has a market cap of $36.58 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02.

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

Analyst Ratings Changes

A number of brokerages recently commented on CHTR. Wall Street Zen upgraded Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research report on Monday, April 28th. Morgan Stanley boosted their price target on shares of Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Bank of America boosted their price objective on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Finally, Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Charter Communications currently has an average rating of "Hold" and an average price target of $410.59.

Insider Activity at Charter Communications

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

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.