ProShare Advisors LLC Cuts Position in Charter Communications, Inc. (NASDAQ:CHTR)

ProShare Advisors LLC trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,182 shares of the company’s stock after selling 17,132 shares during the period. ProShare Advisors LLC’s holdings in Charter Communications were worth $41,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors raised its stake in Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock valued at $3,068,661,000 after purchasing an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC grew its position in Charter Communications by 96.5% in the first quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after acquiring an additional 1,399,034 shares in the last quarter. Parnassus Investments LLC increased its stake in Charter Communications by 40.1% during the fourth quarter. Parnassus Investments LLC now owns 1,620,542 shares of the company’s stock worth $629,872,000 after acquiring an additional 463,968 shares during the last quarter. First Eagle Investment Management LLC raised its position in Charter Communications by 172,425.2% during the second quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock valued at $104,188,000 after purchasing an additional 348,299 shares during the period. Finally, Putnam Investments LLC lifted its stake in shares of Charter Communications by 24.5% in the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after purchasing an additional 242,448 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CHTR. Citigroup upgraded Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price target on the stock in a report on Wednesday, September 11th. The Goldman Sachs Group initiated coverage on shares of Charter Communications in a research note on Monday, July 1st. They issued a “sell” rating and a $250.00 target price on the stock. Rosenblatt Securities lifted their price target on shares of Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. TD Cowen increased their price objective on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Barclays boosted their target price on Charter Communications from $250.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $359.94.

Charter Communications Price Performance

CHTR opened at $330.40 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84. The business’s fifty day simple moving average is $344.81 and its 200-day simple moving average is $302.50. The company has a market capitalization of $47.59 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.61 and a beta of 1.05. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $458.30.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.98 by $0.51. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The company had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same period in the prior year, the business earned $8.05 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Charter Communications, Inc. will post 32.52 earnings per share 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.