Charter Communications, Inc. $CHTR Stock Acquired by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services increased its Charter Communications stake by 2,627.8% in the third quarter, adding 202,027 shares to hold 209,715 shares valued at about $23.3 million.
• Charter reported quarterly revenue of $14.92 billion, up 9.1% year over year and above estimates, but its EPS loss of $20.50 missed the consensus estimate of $8.94.
• Analyst views remain mixed but lean negative: the stock has a consensus “Reduce” rating and an average price target of $192.82, with five Buy, nine Hold, and seven Sell ratings.

Commonwealth Equity Services LLC lifted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 2,627.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,715 shares of the company's stock after buying an additional 202,027 shares during the period. Commonwealth Equity Services LLC owned approximately 0.18% of Charter Communications worth $23,257,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new stake in Charter Communications during the 1st quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in shares of Charter Communications in the second quarter valued at about $28,000. MCF Advisors LLC raised its stake in shares of Charter Communications by 106.5% in the second quarter. MCF Advisors LLC now owns 223 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Raiffeisen Bank International AG raised its stake in shares of Charter Communications by 259.7% in the second quarter. Raiffeisen Bank International AG now owns 223 shares of the company's stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in shares of Charter Communications by 803.7% in the third quarter. Manchester Capital Management LLC now owns 488 shares of the company's stock worth $54,000 after purchasing an additional 434 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Up 2.7%

Charter Communications stock opened at $121.20 on Tuesday. The stock has a market capitalization of $14.46 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.25 and a beta of 0.73. Charter Communications, Inc. has a 12 month low of $101.11 and a 12 month high of $254.11. The business has a 50 day simple moving average of $120.29 and a 200-day simple moving average of $163.00. 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 - Get Free Report) last announced its earnings results on Friday, November 6th. The company reported ($20.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.94 by ($29.44). Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $14.92 billion for the quarter, compared to analysts' expectations of $13.50 billion. During the same quarter last year, the business earned $8.34 EPS. The company's quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Charter Communications, Inc. will post 41.43 EPS for the current fiscal year.

Analyst Ratings Changes

CHTR has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on shares of Charter Communications from $120.00 to $110.00 and set a "sell" rating for the company in a research report on Friday, September 25th. TD Cowen lowered their target price on Charter Communications from $372.00 to $345.00 and set a "buy" rating on the stock in a research note on Monday. Arete Research raised Charter Communications to a "strong sell" rating in a report on Thursday, October 1st. Weiss Ratings downgraded Charter Communications from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, October 2nd. Finally, BNP Paribas Exane decreased their price target on Charter Communications from $150.00 to $120.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, Charter Communications has an average rating of "Reduce" and a consensus price target of $192.82.

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.

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