Weitz Investment: “Charter (CHTR) is Not Sitting Still”

Weitz Investment Management, an investment management firm, published its “Weitz Partners Value Fund” third-quarter 2022 investor letter – a copy of which can be downloaded here. The Partners Value Fund’s Institutional Class returned -6.32% for the third quarter compared to -4.46% for the Russell 3000. Year-to-date, the Fund’s Institutional Class has returned -27.22% compared to -24.62% for the Russell 3000. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Weitz Partners Value Fund mentioned Charter Communications, Inc. (NASDAQ:CHTR) and explained its insights for the company. Founded in 1993, Charter Communications, Inc. (NASDAQ:CHTR) is a Stamford, Connecticut-based telecommunications and mass media company with a $59.9 billion market capitalization. Charter Communications, Inc. (NASDAQ:CHTR) delivered a -40.91% return since the beginning of the year, while its 12-month returns are down by -40.38%. The stock closed at $385.28 per share on November 29, 2022.

Here is what Weitz Partners Value Fund has to say about Charter Communications, Inc. (NASDAQ:CHTR) in its Q3 2022 investor letter:

“Liberty Broadband’s primary asset is a 26% stake in Charter Communications (NASDAQ:CHTR). Charter is not sitting still; the company is adapting via footprint expansion into underserved areas, price-advantaged mobile line growth, and so on. Charter’s hefty free cash flows are valuable in the hands of proven, astute capital allocators. Time will tell, but to paraphrase country music artist Merle Haggard, we do not yet think cable’s good times are really over for good.”

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Our calculations show that Charter Communications, Inc. (NASDAQ:CHTR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Charter Communications, Inc. (NASDAQ:CHTR) was in 68 hedge fund portfolios at the end of the second quarter of 2022, compared to 68 funds in the previous quarter. Charter Communications, Inc. (NASDAQ:CHTR) delivered a -5.92% return in the past 3 months.

In October 2022, we also shared another hedge fund’s views on Charter Communications, Inc. (NASDAQ:CHTR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.