Charter Communications, Inc. $CHTR Stock Holdings Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its position in Charter Communications, Inc. (NASDAQ:CHTR) by 46.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,873 shares of the company’s stock after acquiring 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 quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Charter Communications by 28.4% during the first quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock worth $157,961,000 after purchasing an additional 161,888 shares in the last quarter. State of Michigan Retirement System boosted 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 valued at $93,170,000 after purchasing an additional 405,385 shares during the period. Sei Investments Co. grew its holdings 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 valued at $54,078,000 after purchasing an additional 110,684 shares in the last quarter. Swiss National Bank grew its holdings in shares of Charter Communications by 1.5% in the first 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 in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Charter Communications by 443.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock worth $46,565,000 after buying an additional 342,668 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Performance

Shares of CHTR opened at $118.07 on Friday. The stock has a 50-day simple moving average of $120.93 and a 200-day simple moving average of $163.33. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $14.08 billion, a PE ratio of 12.21, a PEG 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.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data 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 23.71% and a net margin of 9.05%. The company had revenue of $14.92 billion for the quarter, compared to analyst estimates of $13.50 billion. During the same period in the prior year, the firm posted $8.34 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Charter Communications, Inc. will post 41.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CHTR shares. Bank of America reiterated a “buy” rating on shares of Charter Communications in a report on Monday, July 27th. Arete Research upgraded shares of Charter Communications to a “strong sell” rating in a research note on Thursday, October 1st. Sanford C. Bernstein restated a “market perform” rating and issued a $150.00 price target on shares of Charter Communications 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 research report on Tuesday, July 14th. Finally, Benchmark reiterated a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $200.18.

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

About Charter Communications

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.