Donoghue Forlines LLC Acquires New Shares in Charter Communications, Inc. $CHTR

Donoghue Forlines LLC bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,760 shares of the company’s stock, valued at approximately $2,764,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SouthState Corp acquired a new position in Charter Communications during the 1st quarter worth approximately $25,000. Atlantic Union Bankshares Corp bought a new stake in shares of Charter Communications during the second quarter worth $25,000. Salem Investment Counselors Inc. increased its holdings in shares of Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Charter Communications in the 2nd quarter valued at $28,000. Finally, SBI Securities Co. Ltd. lifted its stake 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 valued at $31,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

Insider Transactions at Charter Communications

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the sale, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by insiders.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $204.80 on Friday. The company has a market capitalization of $26.50 billion, a PE ratio of 5.61, a P/E/G ratio of 0.55 and a beta of 1.04. The company has a 50 day simple moving average of $252.95 and a two-hundred day simple moving average of $320.92. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. Charter Communications, Inc. has a fifty-two week low of $204.45 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the firm posted $8.82 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

CHTR has been the topic of a number of research reports. Barclays reduced their price objective on Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. The Goldman Sachs Group initiated coverage on Charter Communications in a report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 price target on the stock. BNP Paribas Exane dropped their price objective on shares of Charter Communications from $255.00 to $200.00 and set an “underperform” rating for the company in a report on Tuesday, November 4th. Oppenheimer downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $280.00 price target (down from $350.00) on shares of Charter Communications in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $329.56.

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.