Charter Communications, Inc. $CHTR Holdings Lifted by Brighton Jones LLC

Brighton Jones LLC increased its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 358.4% during the 3rd quarter, Holdings Channel reports. The firm owned 29,881 shares of the company’s stock after purchasing an additional 23,362 shares during the quarter. Brighton Jones LLC’s holdings in Charter Communications were worth $3,314,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in shares of Charter Communications by 1,547.4% in the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after buying an additional 405,385 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Charter Communications by 443.8% in the third 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 in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Charter Communications by 562.8% in 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 in the last quarter. Tidal Investments LLC increased its position in shares of Charter Communications by 737.5% during the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock valued at $34,344,000 after acquiring an additional 212,668 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Charter Communications by 2,627.8% during the third quarter. Commonwealth Equity Services LLC now owns 209,715 shares of the company’s stock valued at $23,257,000 after acquiring an additional 202,027 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company dropped their price target on Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, July 27th. Wolfe Research downgraded Charter Communications from a “peer perform” rating to an “underperform” rating and set a $118.00 price objective for the company. in a research note on Monday, September 14th. Arete Research raised Charter Communications to a “strong sell” rating in a research report on Thursday, October 1st. Royal Bank Of Canada lowered their target price on 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. Finally, Bank of America reissued a “buy” rating on shares of Charter Communications in a report on Monday, July 27th. Five 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. According to MarketBeat, Charter Communications presently has an average rating of “Reduce” and a consensus target price of $200.18.

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

Charter Communications Stock Performance

Shares of CHTR stock opened at $118.07 on Monday. The company has a 50 day moving average of $120.93 and a 200-day moving average of $163.33. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 3.58. Charter Communications, Inc. has a 12-month low of $101.11 and a 12-month high of $254.11. The firm has a market cap of $14.08 billion, a P/E ratio of 12.21, a PEG ratio of 0.26 and a beta of 0.73.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, November 6th. The company reported ($20.50) EPS for the quarter, missing analysts’ consensus estimates of $8.90 by ($29.40). Charter Communications had a return on equity of 27.11% and a net margin of 2.50%. The company had revenue of $14.92 billion during the quarter, compared to the consensus estimate of $13.50 billion. During the same period last year, the firm posted $8.34 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Charter Communications, Inc. will post 41.43 earnings per share for the current year.

Charter Communications Company 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.