Charter Communications (NASDAQ:CHTR) Reaches New 12-Month Low After Insider Selling

Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low on Monday following insider selling activity. The stock traded as low as $212.60 and last traded at $213.7440, with a volume of 385472 shares. 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 sale, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

CHTR has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. Oppenheimer lowered Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. KeyCorp reaffirmed a “sector weight” rating on shares of Charter Communications in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, November 3rd. Finally, Barclays cut 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, November 3rd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $329.56.

Charter Communications Trading Down 2.6%

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 business’s 50-day moving average is $257.21 and its 200 day moving average is $324.54. The firm has a market capitalization of $29.27 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04.

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

Hedge Funds Weigh In On Charter Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Gamco Investors INC. ET AL lifted its holdings in Charter Communications by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company’s stock worth $1,153,000 after buying an additional 25 shares during the period. Allworth Financial LP increased its position in Charter Communications by 10.5% during the 1st quarter. Allworth Financial LP now owns 283 shares of the company’s stock valued at $104,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management raised its holdings in Charter Communications by 24.3% during the 1st quarter. Hemington Wealth Management now owns 143 shares of the company’s stock worth $52,000 after purchasing an additional 28 shares during the last quarter. Cooper Financial Group increased its stake in shares of Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company’s stock valued at $515,000 after acquiring an additional 28 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Charter Communications by 1.1% in the 1st 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. Institutional investors 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.