Rakuten Investment Management Inc. Purchases 6,306 Shares of Charter Communications, Inc. $CHTR

Rakuten Investment Management Inc. increased its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 46.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,873 shares of the company’s stock after buying an additional 6,306 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Charter Communications were worth $2,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of America Corp DE lifted its stake 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 acquiring an additional 161,888 shares during the period. State of Michigan Retirement System increased its stake in shares of 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 worth $93,170,000 after acquiring an additional 405,385 shares during the period. Sei Investments Co. increased its stake in shares of Charter Communications by 79.2% in the first quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock worth $54,078,000 after acquiring an additional 110,684 shares during the period. Swiss National Bank raised its holdings in shares of Charter Communications by 1.5% during the first quarter. Swiss National Bank now owns 246,896 shares of the company’s stock worth $53,300,000 after purchasing an additional 3,560 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Charter Communications by 443.8% during the third quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock worth $46,565,000 after purchasing an additional 342,668 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

More 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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. 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 Charter Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Bank of America restated a “buy” rating on shares of Charter Communications in a research note on Monday, July 27th. BNP Paribas Exane dropped their target price on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Finally, 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 research report on Monday, September 14th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $200.18.

Charter Communications Stock Performance

NASDAQ CHTR opened at $118.07 on Friday. The company has a market cap of $14.08 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.24 and a beta of 0.73. Charter Communications, Inc. has a 1-year low of $101.11 and a 1-year high of $254.11. The stock’s 50 day simple moving average is $120.93 and its 200-day simple moving average is $163.33. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 6th. The company reported ($20.50) earnings per share for the quarter, missing the consensus estimate of $8.90 by ($29.40). The firm had revenue of $14.92 billion for the quarter, compared to analyst estimates of $13.50 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.34 EPS. As a group, equities research analysts anticipate that Charter Communications, Inc. will post 41.43 EPS for the current fiscal year.

Charter Communications Profile

Charter Communications, Inc provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations.

The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.

Founded in 1993, Charter expanded significantly through its 2016 acquisitions of Time Warner Cable and Bright House Networks, bringing those operations under the Spectrum brand.