Hennessy Advisors Inc. Purchases Shares of 26,300 Charter Communications, Inc. $CHTR

Hennessy Advisors Inc. purchased a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, Holdings Channel reports. The institutional investor purchased 26,300 shares of the company’s stock, valued at approximately $10,752,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SouthState Corp acquired a new stake in Charter Communications during the 1st quarter worth about $25,000. Salem Investment Counselors Inc. raised 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 worth $26,000 after buying an additional 61 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Charter Communications during the 2nd quarter worth about $28,000. SBI Securities Co. Ltd. raised 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 worth $31,000 after buying an additional 41 shares during the period. Finally, Strengthening Families & Communities LLC acquired a new stake in Charter Communications during the 1st quarter worth about $33,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHTR. Bank of America cut their price objective on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. The Goldman Sachs Group began coverage on Charter Communications in a report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 price objective on the stock. Arete Research upgraded Charter Communications to a “strong sell” rating in a report on Tuesday, July 8th. Royal Bank Of Canada dropped their target price on Charter Communications from $430.00 to $370.00 and set a “sector perform” rating on the stock in a report on Monday, July 28th. Finally, UBS Group dropped their target price on Charter Communications from $425.00 to $355.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Charter Communications has a consensus rating of “Hold” and a consensus price target of $385.76.

Charter Communications Trading Up 3.9%

Shares of NASDAQ CHTR opened at $280.01 on Friday. The stock has a market cap of $38.25 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.60 and a beta of 1.05. The business has a 50 day simple moving average of $267.30 and a 200 day simple moving average of $342.71. Charter Communications, Inc. has a 52 week low of $251.80 and a 52 week high of $437.06. 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 (NASDAQ:CHTR) last announced 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). The firm had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.49 EPS. On average, research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Activity at Charter Communications

In other news, Director Balan Nair purchased 360 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the purchase, the director owned 9,622 shares in the company, valued at $2,638,448.62. This represents a 3.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the purchase, the chief executive officer owned 70,243 shares in the company, 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 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.