In this piece, we will take a look at the five best stocks to buy now according to Jonathan Bloomberg’s BloombergSen. For the hedge fund’s introduction and more stocks, head on over to 10 Best Stocks to Buy Now According to Jonathan Bloomberg’s BloombergSen.
5. Charter Communications, Inc. (NASDAQ:CHTR)
BloombergSen’s Stake Value: $96 million
Percentage of BloombergSen’s 13F Portfolio: 5.93%
Number of Hedge Fund Holders: 68
Charter Communications, Inc. (NASDAQ:CHTR) is an American company that offers cable and internet connectivity services. These include pay per view and digital viewing services, alongside fiber connectivity and voice over internet protocol (VoIP) coverage. The firm is headquartered in Stamford, Connecticut.
BloombergSen held a $96 million stake in Charter Communications, Inc. (NASDAQ:CHTR) as part of its June quarter of 2022 investment portfolio, which came in the form of 205,304 shares. Insider Monkey’s Q2 2022 survey of 895 hedge funds outlined that 68 had also invested in the company.
Charter Communications, Inc. (NASDAQ:CHTR)’s latest quarter saw the firm report lower customer growth, which rattled analysts. However, despite this, the firm’s revenue grew by 6% annually, with its average revenue per user growing to a record of $116 from a previous $113.
Charter Communications, Inc. (NASDAQ:CHTR)’s largest investor in our database is Natixis Global Asset Management’s Harris Associates which owns 4.1 million shares that are worth $1.9 billion.
IP Capital Partners mentioned the company in its Q2 2022 investor letter. Here is what the fund said:
“Like Netflix (and other businesses that initially benefited from the pandemic ) , Charter has seen a substantial acceleration in subscriber growth throughout 2020-2021, followed by a relevant slowdown in recent quarters. Furthermore, after five years in which Cable companies absorbed all of the marginal growth in broadband subscribers in the United States, Telcos’ pledges to accelerate the upgrade of their copper networks over fiber optics has resurfaced a narrative of competition. until then asleep. While we share the concern, the magnitude of the equities correction is substantially greater than the potential impact we see on business value.
First, we believe that the recent growth slowdown is primarily a function of the market, rather than materially different competitive dynamics from recent years. In addition to the anticipated growth due to the pandemic, the slowdown in existing home sales in the US market naturally reduces opportunities to offer plans, disproportionately impacting share-takers like Charter…” (Click here to see the full text)
