Charter Communications, Inc. $CHTR Stock Position Lifted by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its position in Charter Communications, Inc. (NASDAQ:CHTR) by 3,149.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,438 shares of the company’s stock after acquiring an additional 91,532 shares during the period. Charter Communications comprises approximately 0.5% of Fulcrum Asset Management LLP’s holdings, making the stock its 29th largest position. Fulcrum Asset Management LLP’s holdings in Charter Communications were worth $10,473,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System raised 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 during the period. Assenagon Asset Management S.A. boosted its stake in Charter Communications by 443.8% in the 3rd 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 period. Robeco Institutional Asset Management B.V. boosted its stake in Charter Communications by 562.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company’s stock worth $36,426,000 after purchasing an additional 278,898 shares during the period. Tidal Investments LLC boosted its stake in Charter Communications by 737.5% in the 2nd quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock worth $34,344,000 after purchasing an additional 212,668 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Charter Communications by 2,627.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 209,715 shares of the company’s stock worth $23,257,000 after purchasing an additional 202,027 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Price Performance

Charter Communications stock opened at $118.07 on Monday. The firm has a market cap of $14.08 billion, a PE ratio of 12.21, a P/E/G ratio of 0.26 and a beta of 0.73. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.36 and a current ratio of 0.37. The firm’s 50 day moving average price is $120.93 and its two-hundred day moving average price is $163.33. Charter Communications, Inc. has a twelve month low of $101.11 and a twelve month high of $254.11.

Charter Communications (NASDAQ:CHTR) last released its earnings results 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). The company had revenue of $14.92 billion during the quarter, compared to analysts’ expectations of $13.50 billion. Charter Communications had a return on equity of 27.11% and a net margin of 2.50%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.34 EPS. On average, research analysts predict that Charter Communications, Inc. will post 41.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CHTR shares. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 target price on shares of Charter Communications in a research note on Monday, July 27th. JPMorgan Chase & Co. reduced their target price on Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Wolfe Research cut Charter Communications from a “peer perform” rating to an “underperform” rating and set a $118.00 target price for the company. in a research report on Monday, September 14th. Morgan Stanley lowered their price target on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Finally, UBS Group lowered their price target on Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average 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 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.