Charter Communications (NASDAQ:CHTR) Hits New 1-Year Low on Insider Selling

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price hit a new 52-week low during mid-day trading on Monday following insider selling activity. The company traded as low as $212.60 and last traded at $213.7440, with a volume of 385472 shares traded. The stock had previously closed at $219.86.

Specifically, Director David C. Merritt sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total value of $271,416.00. Following the completion of the transaction, the director directly owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays reduced their price objective on Charter Communications from $275.00 to $200.00 and set an “underweight” rating for the company in a research report on Monday, November 3rd. Wells Fargo & Company decreased their target price on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Charter Communications from $325.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, November 3rd. Citigroup cut their target price on Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, KeyCorp restated a “sector weight” rating on shares of Charter Communications in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $329.56.

Charter Communications Price Performance

The stock has a market capitalization of $29.27 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The stock has a 50-day simple moving average of $257.21 and a 200 day simple moving average of $324.54.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.32). The company had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.82 earnings per share. On average, equities research analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Institutional Trading of Charter Communications

Several hedge funds and other institutional investors have recently modified their holdings of the company. SouthState Corp bought a new position in Charter Communications during the first quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Charter Communications in the second quarter valued at $25,000. Salem Investment Counselors Inc. lifted its position in Charter Communications by 2,033.3% in 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 during the period. Ameritas Advisory Services LLC bought a new stake in Charter Communications in the 2nd quarter valued at $28,000. Finally, Webster Bank N. A. bought a new position in shares of Charter Communications during the 3rd quarter worth about $28,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

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.