Allstate Corp Makes New $881,000 Investment in Charter Communications, Inc. $CHTR

Allstate Corp purchased a new stake in Charter Communications, Inc. (NASDAQ:CHTR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,203 shares of the company’s stock, valued at approximately $881,000.

Several other large investors have also recently modified their holdings of CHTR. Atlantic Union Bankshares Corp acquired a new stake in Charter Communications in the second quarter valued at $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Charter Communications in the 2nd quarter valued at about $28,000. Webster Bank N. A. bought a new stake in shares of Charter Communications in the 3rd quarter valued at about $28,000. Heritage Wealth Advisors acquired a new stake in shares of Charter Communications in the second quarter valued at about $29,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Charter Communications during the third quarter worth about $30,000. Institutional investors own 81.76% of the company’s stock.

Insider Transactions at Charter Communications

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total value of $271,416.00. Following the transaction, the director owned 10,146 shares in the company, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

Charter Communications Trading Up 1.7%

NASDAQ:CHTR opened at $187.37 on Thursday. Charter Communications, Inc. has a 12 month low of $183.75 and a 12 month high of $437.06. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 4.89. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.51 and a beta of 1.06. The firm has a fifty day simple moving average of $203.28 and a two-hundred day simple moving average of $253.01.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The company had revenue of $13.67 billion for the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.Charter Communications’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $8.82 EPS. Analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHTR. Sanford C. Bernstein reduced their target price on Charter Communications from $280.00 to $240.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $180.00 price objective (down from $240.00) on shares of Charter Communications in a research note on Tuesday, January 13th. Zacks Research cut shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Finally, Bank of America cut their price target 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. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $314.87.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.