Mirae Asset Global Investments Co. Ltd. Purchases 28,307 Shares of Charter Communications, Inc. $CHTR

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 28,307 shares of the company’s stock, valued at approximately $3,139,000.

Several other hedge funds have also made changes to their positions in CHTR. Aviance Capital Partners LLC raised its holdings in Charter Communications by 9.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 17,517 shares of the company’s stock valued at $1,943,000 after acquiring an additional 1,494 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Charter Communications by 48.7% during the 3rd quarter. ProShare Advisors LLC now owns 21,633 shares of the company’s stock worth $2,399,000 after purchasing an additional 7,084 shares in the last quarter. Vise Technologies Inc. increased its position in shares of Charter Communications by 84.4% during the third quarter. Vise Technologies Inc. now owns 5,030 shares of the company’s stock valued at $558,000 after purchasing an additional 2,302 shares during the period. Cidel Asset Management Inc. raised its stake in shares of Charter Communications by 23.5% in the third quarter. Cidel Asset Management Inc. now owns 6,269 shares of the company’s stock valued at $695,000 after purchasing an additional 1,193 shares in the last quarter. Finally, MGO One Seven LLC acquired a new position in shares of Charter Communications in the third quarter valued at $238,000. Institutional investors own 81.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHTR has been the topic of a number of recent research reports. Wolfe Research downgraded shares of Charter Communications from a “peer perform” rating to an “underperform” rating and set a $118.00 price target on the stock. in a research note on Monday, September 14th. Morgan Stanley lowered 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 report on Friday, September 25th. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Barclays decreased their target price on shares of Charter Communications from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, July 27th. Finally, Royal Bank Of Canada lowered their target price on shares of Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, Charter Communications has a consensus rating of “Reduce” and a consensus target price of $200.18.

Charter Communications Price Performance

NASDAQ:CHTR traded down $7.79 during trading hours 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. 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 50-day moving average of $120.93 and a two-hundred day moving average of $163.33. Charter Communications, Inc. has a one year low of $101.11 and a one year high of $254.11. The firm has a market capitalization of $14.08 billion, a PE ratio of 3.07, a PEG ratio of 0.24 and a beta of 0.73.

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

Trending Headlines about 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.