DoubleLine ETF Adviser LP Lowers Position in Charter Communications, Inc. $CHTR

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Charter Communications by 17.1%, holding 9,381 shares valued at approximately $3.46 million.
• The company's stock recently traded at roughly $261.22, with market cap of $35.68 billion and a P/E ratio of 7.15.
• Charter Communications missed earnings estimates with $9.18 EPS, compared to the consensus estimate of $10.06, reflecting a 0.6% increase in revenue year-over-year.

DoubleLine ETF Adviser LP reduced its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,381 shares of the company's stock after selling 1,930 shares during the quarter. Charter Communications comprises approximately 1.1% of DoubleLine ETF Adviser LP's holdings, making the stock its 27th largest position. DoubleLine ETF Adviser LP's holdings in Charter Communications were worth $3,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in shares of Charter Communications by 6.9% during the 1st quarter. Alliancebernstein L.P. now owns 184,787 shares of the company's stock valued at $68,100,000 after acquiring an additional 11,911 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Charter Communications by 129.1% during the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company's stock valued at $4,356,000 after acquiring an additional 6,691 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Charter Communications by 1.9% during the 1st quarter. Advisors Asset Management Inc. now owns 43,397 shares of the company's stock valued at $15,993,000 after acquiring an additional 814 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its position in shares of Charter Communications by 190.4% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 7,869 shares of the company's stock valued at $2,901,000 after acquiring an additional 5,159 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of Charter Communications during the 1st quarter valued at approximately $3,391,000. 81.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey bought 3,670 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the transaction, the chief executive officer owned 70,243 shares in the company, valued at $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Balan Nair acquired 360 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the acquisition, the director directly owned 9,622 shares of the company's stock, valued at $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. UBS Group lowered their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Royal Bank Of Canada lowered their price target on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating for the company in a research report on Monday, July 28th. Bank of America raised their price target on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group started coverage on Charter Communications in a research report on Tuesday. They issued a "sell" rating and a $223.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Charter Communications currently has a consensus rating of "Hold" and an average price target of $394.61.

Charter Communications Trading Up 0.8%

Shares of NASDAQ:CHTR traded up $1.99 on Friday, hitting $261.50. 2,245,925 shares of the company's stock were exchanged, compared to its average volume of 1,724,361. Charter Communications, Inc. has a 12 month low of $254.67 and a 12 month high of $437.06. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The business's 50 day simple moving average is $318.13 and its two-hundred day simple moving average is $355.79. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same quarter last year, the business posted $8.49 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.