Charter Communications, Inc. $CHTR Shares Purchased by Brighton Jones LLC

Key Points

• Brighton Jones LLC increased its Charter Communications stake by 358.4% in the third quarter, adding 23,362 shares to hold 29,881 shares worth about $3.31 million. Other institutional investors also added shares, and institutions collectively own 81.76% of the stock.
• Charter’s Q3 revenue rose 9.1% year over year to $14.92 billion, while adjusted earnings beat expectations. However, a $6.33 billion franchise impairment drove a reported GAAP loss of $20.50 per share, and worsening broadband subscriber losses remain a concern.
• The company introduced a new operating model focused on improving internet offerings, attracting customers through mobile and video, and cutting about $2 billion in costs. Its ability to stabilize broadband customers and execute the plan will be key to restoring growth.

Brighton Jones LLC grew its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 358.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,881 shares of the company's stock after buying an additional 23,362 shares during the period. Brighton Jones LLC's holdings in Charter Communications were worth $3,314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Candriam S.C.A. lifted its position in shares of Charter Communications by 571.9% during the 3rd quarter. Candriam S.C.A. now owns 32,889 shares of the company's stock valued at $3,647,000 after acquiring an additional 27,994 shares during the period. Kimelman & Baird LLC acquired a new stake in Charter Communications in the third quarter worth $71,000. Ethic Inc. increased its stake in Charter Communications by 576.0% in the third quarter. Ethic Inc. now owns 24,477 shares of the company's stock valued at $2,714,000 after purchasing an additional 20,856 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Charter Communications by 19.5% in the third quarter. Pictet Asset Management Holding SA now owns 45,110 shares of the company's stock valued at $5,003,000 after purchasing an additional 7,350 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Charter Communications by 17.0% in the third quarter. Parallel Advisors LLC now owns 1,902 shares of the company's stock valued at $211,000 after purchasing an additional 276 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $118.07 on Monday. The company has a market cap of $14.08 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. Charter Communications, Inc. has a 52 week low of $101.11 and a 52 week high of $254.11. The business has a 50 day moving average price of $120.93 and a 200-day moving average price 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 (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, November 6th. The company reported ($20.50) earnings per share 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 the consensus estimate of $13.50 billion. Charter Communications had a net margin of 2.50% and a return on equity of 27.11%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.34 EPS. Equities analysts anticipate that Charter Communications, Inc. will post 41.43 earnings per share for the current fiscal year.

Key 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

CHTR has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of Charter Communications from $120.00 to $110.00 and set a "sell" rating on the stock in a research report on Friday, September 25th. BNP Paribas Exane decreased their target price on Charter Communications from $150.00 to $120.00 and set an "underperform" rating for the company in a research report on Tuesday, July 14th. Bank of America reaffirmed a "buy" rating on shares of Charter Communications in a research report on Monday, July 27th. Arete Research raised Charter Communications to a "strong sell" rating in a research note on Thursday, October 1st. Finally, Barclays cut their price target on Charter Communications from $130.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, July 27th. 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, Charter Communications presently has an average rating of "Reduce" and a consensus price target of $200.18.

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.

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