Virtu Financial LLC Invests $3.10 Million in Charter Communications, Inc. (NASDAQ:CHTR)

Key Points

• Virtu Financial LLC invested approximately $3.10 million in Charter Communications by acquiring 8,406 shares in the first quarter.
• Several institutional investors, including ST Germain D J Co. Inc. and SBI Securities Co. Ltd., have also significantly increased their holdings in Charter Communications during the same period.
• Charter Communications' stock recently received multiple upgrades from analysts, shifting from "hold" ratings to "buy" ratings from various firms, which reflects increased confidence in the company's performance.

Virtu Financial LLC acquired a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,406 shares of the company's stock, valued at approximately $3,098,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHTR. ST Germain D J Co. Inc. lifted its holdings in shares of Charter Communications by 1,283.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock worth $31,000 after acquiring an additional 77 shares during the period. SBI Securities Co. Ltd. lifted 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 acquiring an additional 41 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Charter Communications by 70.2% during the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 40 shares during the period. Costello Asset Management INC bought a new position in shares of Charter Communications during the 1st quarter worth about $37,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Charter Communications during the 1st quarter worth about $40,000. 81.76% of the stock is owned by institutional investors.

Insider Activity at Charter Communications

In other news, Director Balan Nair acquired 360 shares of Charter Communications 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 purchase, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. The trade was a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 purchased at an average cost of $273.10 per share, for a total transaction 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. The trade was 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Loop Capital upgraded shares of Charter Communications from a "hold" rating to a "buy" rating and increased their target price for the stock from $430.00 to $510.00 in a research report on Monday, May 19th. Raymond James Financial upgraded shares of Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. Sanford C. Bernstein upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 target price for the company in a research report on Monday, July 28th. Finally, UBS Group dropped their target price on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Charter Communications currently has an average rating of "Hold" and a consensus target price of $410.59.

Charter Communications Stock Down 0.9%

Shares of NASDAQ CHTR opened at $256.57 on Friday. The firm has a market capitalization of $35.05 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.57 and a beta of 1.02. 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 1 year low of $256.03 and a 1 year high of $437.06. The firm's 50-day moving average is $368.33 and its 200-day moving average is $368.04.

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

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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