Praxis Investment Management Inc. Acquires 250 Shares of Charter Communications, Inc. $CHTR

Praxis Investment Management Inc. lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 21.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,410 shares of the company’s stock after acquiring an additional 250 shares during the period. Praxis Investment Management Inc.’s holdings in Charter Communications were worth $576,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CHTR. SouthState Corp bought a new position in Charter Communications during the 1st quarter valued at about $25,000. Salem Investment Counselors Inc. lifted its holdings in Charter Communications by 2,033.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Charter Communications during the 2nd quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its holdings in Charter Communications by 93.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock valued at $31,000 after purchasing an additional 41 shares during the last quarter. Finally, Strengthening Families & Communities LLC bought a new position in Charter Communications during the 1st quarter valued at about $33,000. 81.76% of the stock is owned by institutional investors.

Insider Activity at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey purchased 3,670 shares of the stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Balan Nair purchased 360 shares of the stock in a transaction dated 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 transaction, the director owned 9,622 shares in the company, valued at $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 owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CHTR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Charter Communications in a report on Wednesday, October 8th. Citigroup started coverage on shares of Charter Communications in a research report on Monday, October 6th. They issued a “buy” rating and a $325.00 price objective for the company. UBS Group lowered 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 report on Monday, July 28th. Wells Fargo & Company started coverage on shares of Charter Communications in a research report on Thursday, August 21st. They issued an “equal weight” rating and a $300.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a research report on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Charter Communications currently has an average rating of “Hold” and an average price target of $373.71.

Charter Communications Stock Down 0.9%

Shares of NASDAQ:CHTR opened at $253.16 on Friday. Charter Communications, Inc. has a one year low of $251.23 and a one year high of $437.06. The company has a 50 day moving average of $266.47 and a 200-day moving average of $335.53. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 0.58 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 25th. The company reported $9.18 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 business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the prior year, the firm earned $8.49 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current 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.