VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Charter Communications, Inc. $CHTR

Key Points

• Virginia Retirement Systems ET Al purchased 97,100 shares of Charter Communications, valued at approximately $39.7 million, representing about 0.07% of the company's total shares.
• Charter Communications reported a net profit margin of 9.53% for the last quarter, with earnings per share of $9.18, missing analysts' expectations of $10.06.
• Analysts have recently adjusted their price targets for Charter Communications, with an average target of $373.71, reflecting a mix of ratings including eight "buy," nine "hold," and four "sell" ratings.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 97,100 shares of the company's stock, valued at approximately $39,695,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of Charter Communications at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. SouthState Corp acquired a new position in shares of Charter Communications in the 1st quarter valued at $25,000. Salem Investment Counselors Inc. raised its stake in shares of Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock valued at $26,000 after buying an additional 61 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Charter Communications in the 2nd quarter valued at $28,000. SBI Securities Co. Ltd. grew its holdings in shares of Charter Communications by 93.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after purchasing an additional 41 shares during the last quarter. Finally, Strengthening Families & Communities LLC bought a new stake in shares of Charter Communications in the 1st quarter worth about $33,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR opened at $253.16 on Friday. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 0.58 and a beta of 1.05. The firm's 50 day simple moving average is $266.47 and its 200 day simple moving average is $335.23. 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 fifty-two week low of $251.23 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced 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). The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business's 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. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHTR. Bank of America lowered their target price on shares of Charter Communications from $440.00 to $355.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Citigroup began coverage on shares of Charter Communications in a report on Monday, October 6th. They set a "buy" rating and a $325.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charter Communications from $370.00 to $325.00 and set a "hold" rating on the stock in a report on Monday, October 6th. KeyCorp decreased their price objective on shares of Charter Communications from $500.00 to $430.00 and set an "overweight" rating on the stock in a report on Friday, October 3rd. Finally, Royal Bank Of Canada cut their target price on shares of Charter Communications from $370.00 to $325.00 and set a "sector perform" rating on the stock in a research report on Monday, October 6th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Charter Communications presently has an average rating of "Hold" and an average target price of $373.71.

Insider Buying and Selling

In related news, CEO Christopher L. Winfrey bought 3,670 shares of the company's stock in a transaction on Thursday, July 31st. The shares were purchased 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 owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This represents a 5.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Balan Nair bought 360 shares of the company's stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the acquisition, the director directly 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 disclosure for this purchase can be found here. Company insiders own 0.83% of the company's stock.

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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