7,084 Charter Communications, Inc. $CHTR Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 48.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,633 shares of the company’s stock after acquiring an additional 7,084 shares during the period. ProShare Advisors LLC’s holdings in Charter Communications were worth $2,399,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CHTR. Bank of America Corp DE increased its position in Charter Communications by 28.4% during the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after buying an additional 161,888 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Charter Communications by 1,547.4% during 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 in the last quarter. Sei Investments Co. raised its position in shares of Charter Communications by 79.2% in the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock valued at $54,078,000 after purchasing an additional 110,684 shares during the last quarter. Swiss National Bank raised its position in shares of Charter Communications by 1.5% in the 1st quarter. Swiss National Bank now owns 246,896 shares of the company’s stock valued at $53,300,000 after purchasing an additional 3,560 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position 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 purchasing an additional 342,668 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHTR. TD Cowen lowered their target price on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research note on Monday, July 27th. BNP Paribas Exane cut their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Wells Fargo & Company reduced their price objective on Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, July 27th. Royal Bank Of Canada decreased their target price on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating for the company in a report on Monday, July 27th. Finally, Weiss Ratings lowered Charter Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $200.18.

Charter Communications Stock Performance

Shares of CHTR traded down $7.79 during mid-day 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 company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $14.08 billion, a P/E ratio of 3.07, a PEG ratio of 0.24 and a beta of 0.73. The stock has a 50 day moving average of $120.93 and a two-hundred day moving average of $163.33.

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

Key Headlines Impacting Charter Communications

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

About Charter Communications

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.