Employees Retirement System of Texas Invests $306,000 in Charter Communications, Inc. $CHTR

Employees Retirement System of Texas bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 749 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Gamco Investors INC. ET AL increased its position in Charter Communications by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company’s stock valued at $1,153,000 after acquiring an additional 25 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Charter Communications by 24.3% in the first quarter. Hemington Wealth Management now owns 143 shares of the company’s stock valued at $52,000 after purchasing an additional 28 shares in the last quarter. Cooper Financial Group raised its position in Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company’s stock worth $515,000 after purchasing an additional 28 shares during the last quarter. Diversified Trust Co lifted its holdings in Charter Communications by 3.5% during the 2nd quarter. Diversified Trust Co now owns 880 shares of the company’s stock worth $360,000 after buying an additional 30 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Charter Communications by 8.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 410 shares of the company’s stock valued at $151,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR opened at $199.81 on Friday. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 5.47, a P/E/G ratio of 0.55 and a beta of 1.04. The firm’s 50 day simple moving average is $240.27 and its 200 day simple moving average is $307.50. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. Charter Communications, Inc. has a fifty-two week low of $193.00 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last released 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 previous year, the business earned $8.82 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CHTR. Sanford C. Bernstein reissued a “market perform” rating and issued a $280.00 target price (down from $350.00) on shares of Charter Communications in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a report on Monday. Citigroup reduced their target price on shares of Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Royal Bank Of Canada dropped their price target on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a research note on Monday, November 3rd. Finally, Benchmark reduced their price objective on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $329.56.

Insider Buying and Selling at Charter Communications

In other news, Director David C. Merritt sold 1,200 shares of the business’s stock in a transaction on 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 owned 10,146 shares of the company’s stock, valued at $2,294,822.28. The trade was a 10.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

Charter Communications 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.