Charter Communications (NASDAQ:CHTR) Director Sells $10,058,486.85 in Stock

Charter Communications, Inc. (NASDAQ:CHTR) Director Thomas Rutledge sold 69,633 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the transaction, the director owned 3,968 shares in the company, valued at $573,177.60. This trade represents a 94.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Thomas Rutledge also recently made the following trade(s):

• On Wednesday, May 27th, Thomas Rutledge sold 18,200 shares of Charter Communications stock. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00.

Charter Communications Stock Down 2.2%

CHTR opened at $144.05 on Friday. The company has a market cap of $17.72 billion, a P/E ratio of 3.89, a P/E/G ratio of 0.25 and a beta of 0.76. The business’s 50-day moving average price is $189.60 and its 200-day moving average price is $203.91. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications, Inc. has a 12 month low of $136.63 and a 12 month high of $422.29.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the prior year, the firm earned $8.42 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts expect that Charter Communications, Inc. will post 43 EPS for the current year.

Institutional Trading of Charter Communications

A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its position in shares of Charter Communications by 2.1% in the 1st quarter. Glenmede Trust Co. NA now owns 5,480 shares of the company’s stock worth $1,183,000 after purchasing an additional 113 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Charter Communications by 28.4% in the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock worth $157,961,000 after purchasing an additional 161,888 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Charter Communications in the 1st quarter worth approximately $5,741,000. Bull Harbor Capital LLC bought a new stake in shares of Charter Communications in the 1st quarter worth approximately $383,000. Finally, Arkadios Wealth Advisors boosted its position in shares of Charter Communications by 7.6% in the 1st quarter. Arkadios Wealth Advisors now owns 1,751 shares of the company’s stock worth $378,000 after purchasing an additional 123 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHTR. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a report on Friday, March 27th. Citigroup cut their price objective on Charter Communications from $290.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Wells Fargo & Company lifted their price objective on Charter Communications from $180.00 to $200.00 and gave the company an “underweight” rating in a research report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $290.38.

Charter Communications Company Profile

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.