Traders Buy Shares of Charter Communications (CHTR) on Weakness After Insider Selling
Traders purchased shares of Charter Communications Inc (NASDAQ:CHTR) on weakness during trading hours on Monday following insider selling activity. $125.40 million flowed into the stock on the tick-up and $87.22 million flowed out of the stock on the tick-down, for a money net flow of $38.18 million into the stock. Of all stocks tracked, Charter Communications had the 27th highest net in-flow for the day. Charter Communications traded down ($6.34) for the day and closed at $337.82Specifically, EVP Richard R. Dykhouse sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $340.72, for a total value of $3,747,920.00. Following the sale, the executive vice president now directly owns 16,610 shares of the company’s stock, valued at approximately $5,659,359.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Hargis sold 15,000 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $339.51, for a total transaction of $5,092,650.00. Following the completion of the sale, the executive vice president now directly owns 15,964 shares in the company, valued at $5,419,937.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,214 shares of company stock worth $18,490,531. 0.83% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Charter Communications from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a report on Monday, October 22nd. Credit Suisse Group reissued a “neutral” rating and issued a $345.00 price target (up from $294.00) on shares of Charter Communications in a report on Friday, February 1st. BidaskClub cut shares of Charter Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 27th. Raymond James lowered their price target on shares of Charter Communications from $400.00 to $365.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 31st. Finally, SunTrust Banks lowered their price target on shares of Charter Communications from $390.00 to $365.00 and set a “buy” rating on the stock in a report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $361.21.
The stock has a market capitalization of $77.56 billion, a PE ratio of 64.72, a P/E/G ratio of 1.26 and a beta of 1.32. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 1.57.
Several large investors have recently made changes to their positions in CHTR. Advisors Asset Management Inc. grew its position in shares of Charter Communications by 49.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 34,623 shares of the company’s stock worth $10,152,000 after purchasing an additional 11,477 shares in the last quarter. Rathbone Brothers plc acquired a new position in shares of Charter Communications during the 3rd quarter worth approximately $1,246,000. Bank of Montreal Can grew its position in shares of Charter Communications by 61.7% during the 3rd quarter. Bank of Montreal Can now owns 125,390 shares of the company’s stock worth $40,862,000 after purchasing an additional 47,834 shares in the last quarter. Zweig DiMenna Associates LLC boosted its position in shares of Charter Communications by 51.0% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 29,250 shares of the company’s stock worth $9,532,000 after acquiring an additional 9,879 shares in the last quarter. Finally, Andra AP fonden boosted its position in shares of Charter Communications by 5.9% during the 3rd quarter. Andra AP fonden now owns 16,200 shares of the company’s stock worth $5,279,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.
About Charter Communications (NASDAQ:CHTR)
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
Further Reading: Return on Equity (ROE)
Receive News & Ratings for Charter Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charter Communications and related companies with MarketBeat.com's FREE daily email newsletter.