ProShare Advisors LLC Buys 50,522 Shares of Charter Communications, Inc. $CHTR

Key Points

• ProShare Advisors LLC increased its Charter Communications stake by 29.8% in the fourth quarter, adding 50,522 shares to bring its total holdings to 220,042 shares valued at about $45.9 million.
• Charter Communications reported earnings of $9.17 per share for the latest quarter, missing analyst expectations, while revenue of $13.6 billion came in slightly above estimates but was still down 1% year over year.
• Sentiment remains mixed: analysts currently have a consensus rating of “Reduce” with a $292 price target, even as insiders recently bought shares and some other institutions also expanded their positions.

ProShare Advisors LLC grew its stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 29.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,042 shares of the company's stock after acquiring an additional 50,522 shares during the period. ProShare Advisors LLC owned 0.17% of Charter Communications worth $45,934,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gateway Investment Advisers LLC bought a new position in shares of Charter Communications during the 4th quarter worth $5,911,000. First Eagle Investment Management LLC grew its position in shares of Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock worth $619,885,000 after buying an additional 1,617,148 shares in the last quarter. Optimize Financial Inc bought a new position in shares of Charter Communications during the 3rd quarter worth $1,557,000. Swiss Life Asset Management Ltd grew its position in shares of Charter Communications by 110.7% during the 4th quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company's stock worth $6,521,000 after buying an additional 16,415 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Charter Communications by 245.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,717 shares of the company's stock worth $4,069,000 after buying an additional 10,455 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Price Performance

Shares of CHTR stock opened at $142.49 on Wednesday. The company has a market cap of $17.52 billion, a P/E ratio of 3.85, a PEG ratio of 0.24 and a beta of 0.76. Charter Communications, Inc. has a 1-year low of $136.63 and a 1-year high of $427.39. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The stock's 50-day moving average is $201.26 and its 200 day moving average is $208.19.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. Charter Communications's revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $8.42 earnings per share. Research analysts predict that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHTR has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. UBS Group set a $425.00 price objective on shares of Charter Communications in a research note on Thursday, January 29th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Charter Communications in a research note on Friday, March 27th. Williams Trading set a $437.00 price objective on shares of Charter Communications in a research note on Monday, February 2nd. Finally, Zacks Research upgraded shares of Charter Communications from a "strong sell" rating to a "hold" rating in a research note on Monday, February 16th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $292.00.

Insider Activity

In other news, Director Balan Nair bought 1,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was bought at an average cost of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the purchase, the director directly owned 12,029 shares in the company, valued at approximately $2,110,608.34. The trade was a 9.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mauricio Ramos bought 9,929 shares of the stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the purchase, the director owned 19,309 shares of the company's stock, valued at $2,721,217.37. This represents a 105.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 20,125 shares of company stock valued at $3,167,116 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

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