Wright Investors Service Inc. Acquires 1,117 Shares of Charter Communications, Inc. $CHTR

Key Points

• Wright Investors Service Inc. increased its stake in Charter Communications by 86.5%, acquiring an additional 1,117 shares, bringing its total to 2,408 shares valued at approximately $984,000.
• CEO Christopher L. Winfrey purchased 3,670 shares of Charter stock for $1,002,277, increasing his ownership by 5.51%, and now holds shares worth about $19 million.
• Charter Communications reported a decrease in earnings per share for the last quarter, posting $9.18 compared to the consensus estimate of $10.06, although revenues slightly surpassed expectations at $13.77 billion.

Wright Investors Service Inc. boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 86.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,408 shares of the company's stock after acquiring an additional 1,117 shares during the quarter. Wright Investors Service Inc.'s holdings in Charter Communications were worth $984,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Financiere des Professionnels Fonds d investissement inc. bought a new position in Charter Communications in the 2nd quarter valued at about $149,000. Diversified Trust Co lifted its position in Charter Communications by 3.5% in the 2nd quarter. Diversified Trust Co now owns 880 shares of the company's stock valued at $360,000 after acquiring an additional 30 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Charter Communications in the 2nd quarter valued at about $43,994,000. IFM Investors Pty Ltd lifted its position in Charter Communications by 1.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 18,088 shares of the company's stock valued at $7,395,000 after acquiring an additional 265 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Charter Communications by 9.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,262 shares of the company's stock valued at $1,777,000 after buying an additional 369 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Insider Buying and Selling

In other news, CEO Christopher L. Winfrey purchased 3,670 shares of the business's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Balan Nair purchased 360 shares of the business's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, with a total value of $98,715.60. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by insiders.

Charter Communications Trading Up 0.1%

Shares of CHTR stock opened at $262.55 on Friday. The company has a 50 day moving average of $288.99 and a 200-day moving average of $348.98. 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, Inc. has a 12-month low of $251.80 and a 12-month high of $437.06. The firm has a market cap of $35.86 billion, a P/E ratio of 7.19, a PEG ratio of 0.59 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly 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). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. During the same quarter in the previous year, the business earned $8.49 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CHTR shares. UBS Group decreased their price objective on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada decreased 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 note on Monday, July 28th. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Wells Fargo & Company started coverage on shares of Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 price objective for the company. Finally, Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $392.94.

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.

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