Truist Financial Corp Acquires 897 Shares of Charter Communications, Inc. $CHTR

Truist Financial Corp raised its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 9.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,880 shares of the company’s stock after buying an additional 897 shares during the quarter. Truist Financial Corp’s holdings in Charter Communications were worth $4,448,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SouthState Corp acquired a new position in Charter Communications during the 1st quarter valued at $25,000. Salem Investment Counselors Inc. grew its position in 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 purchasing an additional 61 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of 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 purchasing an additional 41 shares during the period. Strengthening Families & Communities LLC acquired a new position in shares of Charter Communications during the first quarter valued at about $33,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wolfe Research upgraded Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. UBS Group decreased their price target on shares of Charter Communications from $425.00 to $355.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Citigroup assumed coverage on shares of Charter Communications in a research note on Monday. They issued a “buy” rating and a $325.00 price objective for the company. Bank of America decreased their target price on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Charter Communications in a research report on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price target for the company. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $373.71.

Insider Buying and Selling

In other news, Director Balan Nair acquired 360 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the transaction, the director owned 9,622 shares of the company’s stock, valued at approximately $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher L. Winfrey bought 3,670 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares of the company’s stock, valued at $19,183,363.30. The trade was a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company’s stock.

Charter Communications Stock Performance

Charter Communications stock opened at $276.48 on Wednesday. The stock has a 50-day simple moving average of $266.91 and a 200 day simple moving average of $341.48. The stock has a market capitalization of $37.76 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 0.63 and a beta of 1.05. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications, Inc. has a 12-month low of $251.80 and a 12-month high of $437.06.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the previous year, the business posted $8.49 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

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.