David Merritt Sells 1,200 Shares of Charter Communications (NASDAQ:CHTR) Stock

Charter Communications, Inc. (NASDAQ:CHTR) Director David Merritt sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website.

Charter Communications Price Performance

Shares of NASDAQ:CHTR traded up $2.00 during trading on Friday, hitting $219.86. 1,405,249 shares of the stock were exchanged, compared to its average volume of 1,630,196. The company has a market cap of $30.03 billion, a PE ratio of 6.02, a P/E/G 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 company has a fifty day moving average price of $258.13 and a two-hundred day moving average price of $325.39. Charter Communications, Inc. has a 12-month low of $213.50 and a 12-month high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.32). The firm 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 period in the prior year, the firm posted $8.82 earnings per share. On average, analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHTR. Sanford C. Bernstein restated a “market perform” rating and set a $280.00 target price (down previously from $350.00) on shares of Charter Communications in a research report on Monday. Barclays reduced their target price on Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday. The Goldman Sachs Group initiated coverage on Charter Communications in a report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 target price on the stock. Citigroup cut their price target on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a report on Monday. Finally, BNP Paribas Exane reduced their price objective on Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Charter Communications presently has an average rating of “Reduce” and a consensus price target of $329.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atlantic Union Bankshares Corp purchased a new stake in shares of Charter Communications during the 2nd quarter valued at $25,000. Salem Investment Counselors Inc. raised its position in shares of Charter Communications by 2,033.3% in 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 position in Charter Communications in the second quarter valued at $28,000. SouthState Corp purchased a new stake in Charter Communications during the first quarter valued at about $25,000. Finally, Heritage Wealth Advisors acquired a new stake in Charter Communications during the second quarter worth about $29,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

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.