Forsta AP Fonden Acquires 700 Shares of Charter Communications, Inc. $CHTR

Forsta AP Fonden grew its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,800 shares of the company’s stock after buying an additional 700 shares during the quarter. Forsta AP Fonden’s holdings in Charter Communications were worth $7,277,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. SouthState Corp bought a new stake in Charter Communications during the 1st quarter worth about $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Charter Communications during the second quarter worth approximately $25,000. Salem Investment Counselors Inc. lifted its position 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 purchasing an additional 61 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Charter Communications during the second quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Charter Communications by 93.2% in the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock valued at $31,000 after purchasing an additional 41 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total value of $271,416.00. Following the sale, the director directly owned 10,146 shares in the company, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CHTR shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $280.00 price objective (down previously from $350.00) on shares of Charter Communications in a report on Monday, November 3rd. Bank of America dropped their target price on Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Weiss Ratings lowered Charter Communications from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Citigroup lowered their price objective on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, Wells Fargo & Company cut their target price on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $329.56.

Charter Communications Price Performance

Charter Communications stock opened at $204.80 on Friday. The firm has a market capitalization of $26.50 billion, a P/E ratio of 5.61, a PEG ratio of 0.55 and a beta of 1.04. Charter Communications, Inc. has a 1 year low of $204.45 and a 1 year high of $437.06. The business has a 50-day moving average of $252.95 and a 200-day moving average of $320.92. 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 (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the business earned $8.82 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, equities analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

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.