Truist Financial Corp Has $4.45 Million Stake in Charter Communications, Inc. $CHTR

Truist Financial Corp increased its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 9.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,880 shares of the company’s stock after purchasing an additional 897 shares during the quarter. Truist Financial Corp’s holdings in Charter Communications were worth $4,448,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CHTR. Gamco Investors INC. ET AL raised its position in shares of Charter Communications by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company’s stock valued at $1,153,000 after acquiring an additional 25 shares during the last quarter. Allworth Financial LP grew its stake in shares of Charter Communications by 10.5% during the first quarter. Allworth Financial LP now owns 283 shares of the company’s stock worth $104,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management increased its holdings in Charter Communications by 24.3% in the first quarter. Hemington Wealth Management now owns 143 shares of the company’s stock valued at $52,000 after purchasing an additional 28 shares during the last quarter. Brown Advisory Inc. lifted its stake in Charter Communications by 1.1% in the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company’s stock valued at $997,000 after buying an additional 29 shares during the period. Finally, Diversified Trust Co boosted its holdings in Charter Communications by 3.5% during the second quarter. Diversified Trust Co now owns 880 shares of the company’s stock worth $360,000 after buying an additional 30 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on CHTR shares. The Goldman Sachs Group began coverage on Charter Communications in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price target for the company. Barclays lowered their target price on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a research note on Monday, July 28th. Sanford C. Bernstein cut their target price on shares of Charter Communications from $380.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Charter Communications from $370.00 to $325.00 and set a “hold” rating for the company in a report on Monday. Finally, Arete Research upgraded shares of Charter Communications to a “strong sell” rating in a research report on Tuesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Charter Communications currently has a consensus rating of “Hold” and a consensus price target of $373.71.

Insider Activity

In related news, Director Balan Nair bought 360 shares of the 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 completion of the transaction, the director owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey bought 3,670 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were bought 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 directly owned 70,243 shares of the company’s stock, valued at $19,183,363.30. This represents a 5.51% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.83% of the company’s stock.

Charter Communications Price Performance

Shares of CHTR opened at $276.48 on Wednesday. The stock has a market capitalization of $37.76 billion, a P/E ratio of 7.57, a P/E/G ratio of 0.63 and a beta of 1.05. Charter Communications, Inc. has a twelve month low of $251.80 and a twelve month high of $437.06. The company has a 50 day moving average of $266.91 and a 200-day moving average of $341.48. 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 (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the prior year, the firm earned $8.49 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal 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.