Charter Communications Sees Unusually Large Options Volume (NASDAQ:CHTR)

Posted by Defense World Staff on Oct 7th, 2023

Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report) was the target of some unusual options trading activity on Friday. Traders purchased 10,736 call options on the stock. This represents an increase of 218% compared to the average daily volume of 3,375 call options.

Charter Communications Trading Down 0.1 %

Shares of Charter Communications stock opened at $431.16 on Friday. The company’s fifty day simple moving average is $429.58 and its 200-day simple moving average is $378.20. The stock has a market capitalization of $64.53 billion, a PE ratio of 14.48, a P/E/G ratio of 0.72 and a beta of 1.11. Charter Communications has a 1-year low of $297.66 and a 1-year high of $457.66. The company has a debt-to-equity ratio of 6.84, a current ratio of 0.33 and a quick ratio of 0.33.

Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings data on Friday, July 28th. The company reported $8.05 EPS for the quarter, beating the consensus estimate of $7.66 by $0.39. The firm had revenue of $13.66 billion for the quarter, compared to the consensus estimate of $13.84 billion. Charter Communications had a net margin of 8.48% and a return on equity of 35.69%. The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $8.80 EPS. As a group, equities analysts anticipate that Charter Communications will post 31.26 earnings per share for the current year.

Insider Buying and Selling at Charter Communications

In other news, Director Craig A. Jacobson sold 2,104 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $418.16, for a total transaction of $879,808.64. Following the completion of the sale, the director now directly owns 10,249 shares in the company, valued at $4,285,721.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.32% of the company’s stock.

Institutional Trading of Charter Communications

Several institutional investors and hedge funds have recently modified their holdings of CHTR. Pzena Investment Management LLC raised its position in shares of Charter Communications by 104.9% during the 2nd quarter. Pzena Investment Management LLC now owns 1,205,824 shares of the company’s stock valued at $442,984,000 after purchasing an additional 617,287 shares during the period. Renaissance Technologies LLC increased its holdings in Charter Communications by 462.8% in the 1st quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock valued at $295,345,000 after acquiring an additional 445,200 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Charter Communications by 507.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 477,631 shares of the company’s stock valued at $260,557,000 after acquiring an additional 398,954 shares during the last quarter. Norges Bank bought a new stake in Charter Communications in the 4th quarter valued at $132,163,000. Finally, Veritas Asset Management LLP increased its holdings in Charter Communications by 14.2% in the 1st quarter. Veritas Asset Management LLP now owns 2,854,540 shares of the company’s stock valued at $1,020,812,000 after acquiring an additional 354,807 shares during the last quarter. 93.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHTR. Loop Capital increased their target price on shares of Charter Communications from $390.00 to $405.00 and gave the stock a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company raised shares of Charter Communications from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $450.00 to $550.00 in a research note on Friday, September 22nd. The Goldman Sachs Group increased their price target on shares of Charter Communications from $450.00 to $510.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Wolfe Research raised shares of Charter Communications from a “peer perform” rating to an “outperform” rating and set a $565.00 price target for the company in a research note on Wednesday, August 2nd. Finally, Barclays increased their price target on shares of Charter Communications from $273.00 to $325.00 and gave the stock an “underweight” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $504.78.

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Charter Communications Company Profile

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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; security suite that protects computers from viruses and spyware, and threats from malicious actors; 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.