Charter Communications (CHTR)

• Market cap: $50B
• 1 day: -0.36%
• 5 days: -7.26%
• 1 month: -9.67%
• 3 months: 6.39%
• 6 months: 23.77%
• Year to date: -10.22%
• 1 year: -7.80%
• 5 years: -26.19%
• 10 years: 113.04%
• Sector: Communication Services
• Industry: Cable & Other Pay Television Services

About: Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 58 million US homes and businesses, around 35% of the country. Across this footprint, Charter serves 29 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest US cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.

Employees: 101,100

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

55% more first-time investments, than exits

New positions opened: 124 | Existing positions closed: 80

10% more call options, than puts

Call options by funds: $863M | Put options by funds: $784M

6% more funds holding

Funds holding: 773 [Q2] → 817 (+44) [Q3]

2% more capital invested

Capital invested by funds: $31.7B [Q2] → $32.4B (+$702M) [Q3]

1% more repeat investments, than reductions

Existing positions increased: 271 | Existing positions reduced: 267

3.32% less ownership

Funds ownership: 73.52% [Q2] → 70.2% (-3.32%) [Q3]

5% less funds holding in top 10

Funds holding in top 10: 21 [Q2] → 20 (-1) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $300 15% downside
• Avg. target: $395 12% upside
• High target: $500 42% upside

11 analyst ratings

• positive: 3 27%
• neutral: 6 55%
• negative: 2 18%

Keybanc Brandon Nispel 41% 1-year accuracy 9 / 22 met price target	42% upside $500	Overweight Upgraded	12 Dec 2024
Exane BNP Paribas Kohulan Paramaguru 0% 1-year accuracy 0 / 1 met price target	2% upside $360	Neutral Upgraded	26 Nov 2024
Benchmark Matthew Harrigan 51% 1-year accuracy 39 / 77 met price target	28% upside $450	Buy Maintained	5 Nov 2024
Deutsche Bank Bryan Kraft 69% 1-year accuracy 11 / 16 met price target	4% upside $365	Hold Maintained	4 Nov 2024
RBC Capital Jonathan Atkin 44% 1-year accuracy 8 / 18 met price target	11% upside $390	Sector Perform Maintained	4 Nov 2024