Charter Communications, Inc. $CHTR Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in Charter Communications, Inc. (NASDAQ:CHTR) by 48.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,633 shares of the company’s stock after buying an additional 7,084 shares during the quarter. ProShare Advisors LLC’s holdings in Charter Communications were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. State of Michigan Retirement System increased its stake in Charter Communications by 1,547.4% in the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock valued at $93,170,000 after acquiring an additional 405,385 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock valued at $46,565,000 after acquiring an additional 342,668 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Charter Communications by 562.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company’s stock valued at $36,426,000 after acquiring an additional 278,898 shares during the last quarter. Tidal Investments LLC lifted its holdings in Charter Communications by 737.5% in the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock worth $34,344,000 after buying an additional 212,668 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Charter Communications by 798.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 201,424 shares of the company’s stock worth $22,338,000 after buying an additional 179,007 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Trading Down 6.2%

CHTR traded down $7.79 during trading on Friday, reaching $118.07. The company had a trading volume of 6,463,288 shares, compared to its average volume of 2,757,333. Charter Communications, Inc. has a 52 week low of $101.11 and a 52 week high of $254.11. The stock has a market cap of $14.08 billion, a P/E ratio of 3.07, a PEG ratio of 0.24 and a beta of 0.73. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The business has a 50 day simple moving average of $120.93 and a 200-day simple moving average of $163.33.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, November 6th. The company reported ($20.50) earnings per share for the quarter, missing analysts’ consensus estimates of $8.90 by ($29.40). The firm had revenue of $14.92 billion during the quarter, compared to analysts’ expectations of $13.50 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $8.34 earnings per share. On average, equities analysts anticipate that Charter Communications, Inc. will post 44.11 EPS for the current fiscal year.

Analyst Ratings Changes

CHTR has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on Charter Communications from $120.00 to $110.00 and set a “sell” rating on the stock in a report on Friday, September 25th. BNP Paribas Exane cut their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Wolfe Research cut Charter Communications from a “peer perform” rating to an “underperform” rating and set a $118.00 price target for the company. in a report on Monday, September 14th. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. Finally, Morgan Stanley reduced their price target on shares of Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $200.18.

Key Charter Communications News

Here are the key news stories impacting Charter Communications this week:

• Positive Sentiment: Charter reported Q3 revenue of $14.92 billion, above estimates, and adjusted EPS of $21.70, also ahead of consensus. Revenue growth was aided by the Cox acquisition. Charter Communications tops Q3 earnings and revenue estimates
• Positive Sentiment: The company launched a new operating model aimed at returning to growth, improving its internet offerings, and using mobile and video services to attract customers. Management’s plan includes about $2 billion in cost cuts, which could help profitability if executed. Charter announces Q3 results and launches new operating model
• Negative Sentiment: Broadband customer losses worsened in Q3, overshadowing the earnings and revenue beats. Investors are concerned that competition is making it harder for Charter to stabilize its core internet business. Charter’s cost-cutting plan is overshadowed by subscriber losses
• Negative Sentiment: A $6.33 billion franchise impairment drove a reported GAAP loss of $20.50 per share, creating a sharp contrast with the adjusted earnings beat. The impairment and declining cash flow added to concerns about the quarter’s underlying performance. Charter Q3 earnings beat on debt gain amid franchise impairment

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.