Steven Miron Is The Independent Director of Charter Communications, Inc. (NASDAQ:CHTR) And They Just Picked Up 37% More Shares
Those following along with Charter Communications, Inc. (NASDAQ:CHTR) will no doubt be intrigued by the recent purchase of shares by Steven Miron, Independent Director of the company, who spent a stonking US$961k on stock at an average price of US$384. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 37%.
Check out our latest analysis for Charter Communications
Charter Communications Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Lead Independent Director Eric Zinterhofer bought US$10m worth of shares at a price of US$377 per share. That means that an insider was happy to buy shares at around the current price of US$412. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. Happily, the Charter Communications insiders decided to buy shares at close to current prices.
Happily, we note that in the last year insiders paid US$11m for 29.70k shares. On the other hand they divested 5.30k shares, for US$2.4m. In the last twelve months there was more buying than selling by Charter Communications insiders. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Charter Communications is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Does Charter Communications Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It's great to see that Charter Communications insiders own 0.3% of the company, worth about US$223m. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
What Might The Insider Transactions At Charter Communications Tell Us?
It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Charter Communications. That's what I like to see! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. In terms of investment risks, we've identified 1 warning sign with Charter Communications and understanding this should be part of your investment process.
Of course Charter Communications may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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