Insider Buying: Charter Communications, Inc. (NASDAQ:CHTR) CEO Acquires 3,670 Shares of Stock

Key Points

• Charter Communications CEO Christopher L. Winfrey purchased 3,670 shares at an average price of $273.10, totaling over $1 million, increasing his ownership to 70,243 shares valued at approximately $19 million.
• Despite the recent insider buying, Charter's shares fell by 3.8% to $269.36, while trading volume exceeded its average, indicating potential market volatility.
• Analysts have mixed views on Charter, with target prices ranging from $275 to $510, highlighting investment uncertainty in the firm's prospects.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) CEO Christopher L. Winfrey bought 3,670 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price 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 in the company, valued at approximately $19,183,363.30. This represents a 5.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Charter Communications Trading Down 3.8%

Shares of NASDAQ:CHTR traded down $10.53 on Thursday, hitting $269.36. 3,529,813 shares of the company's stock were exchanged, compared to its average volume of 1,434,220. Charter Communications, Inc. has a 12 month low of $268.58 and a 12 month high of $437.06. The stock has a market capitalization of $37.81 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08. The business's 50 day simple moving average is $388.14 and its two-hundred day simple moving average is $372.03. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.36.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). The firm 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 business's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.49 earnings per share. Analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Charter Communications by 822.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company's stock worth $433,167,000 after buying an additional 1,126,783 shares during the period. GAMMA Investing LLC raised its stake in Charter Communications by 43,296.0% in the 1st quarter. GAMMA Investing LLC now owns 857,938 shares of the company's stock valued at $316,176,000 after purchasing an additional 855,961 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Charter Communications by 53.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock valued at $851,331,000 after purchasing an additional 806,145 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Charter Communications by 48.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company's stock valued at $304,674,000 after purchasing an additional 244,324 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Charter Communications by 22.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after purchasing an additional 198,444 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Wall Street Analysts Forecast Growth

CHTR has been the topic of a number of research reports. Barclays dropped their target price on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a report on Monday. Citigroup boosted their target price on Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Loop Capital upgraded shares of Charter Communications from a "hold" rating to a "buy" rating and increased their price objective for the stock from $430.00 to $510.00 in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada lowered their price objective on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Charter Communications currently has an average rating of "Hold" and an average target price of $410.59.

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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