Citi cuts rating on Charter Communications, Liberty Broadband on looming broadband hurdles
- Citi Research Downgrade: Citi Research downgraded shares of Charter Communications to "Sell" from "Neutral," citing risks in the organic broadband environment and potential negative catalysts in upcoming quarters.
- Charter Communications Earnings: Analysts expect Charter's EBITDA to fall below current consensus due to headwinds on broadband and the absence of political advertising revenue in 2025.
- Liberty Broadband Downgrade: Citi also downgraded Liberty Broadband to "Neutral" from "Buy," reducing its price target, based on similar broadband subscriber challenges and overly optimistic EBITDA expectations for 2025.
- Reasoning Behind Downgrades: The downgrades were influenced by concerns about tougher broadband environments relative to expectations and the impact on financial performance and valuation.
- Financial Impact: Citi cut Charter's price target by $25 to $255 and Liberty Broadband's PT by $10 to $57, highlighting potential downside risks and challenges in the broadband sector.
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Oakmark Select Fund Outperforms Benchmark in Q4, Adds Target Resources
- Quarterly Performance: The Oakmark Select Fund Investor Class outperformed its benchmark in Q4, primarily driven by strong gains in the communication services and financial sectors, demonstrating resilience amid market volatility.
- Sector Impact Analysis: While the industrials sector was the only detractor, the overall strong performance reflects the fund's successful stock selection strategy.
- New Investment Positioning: The fund added Target Resources (TRGP) in Q4, a company controlling 90% of the fractionation capacity in the world's largest NGL hub, Mont Belvieu, indicating a bullish outlook on the midstream natural gas market.
- Asset Adjustment Strategy: The fund announced final sales of Charter Communications Cl A (CHTR), GCI Liberty Cl C (GLIBK), and Liberty Broadband Cl C (LBRDK), highlighting its proactive approach to optimizing the investment portfolio.
Liberty Broadband to Host GCI Liberty Q4 Earnings Call on February 11
- Earnings Call Announcement: Liberty Broadband has scheduled a Q4 earnings conference call for GCI Liberty on February 11 at 11:15 a.m. E.T., where management will discuss financial performance and outlook, aiming to enhance investor understanding of future developments.
- Participation Details: Interested shareholders and analysts can join the call by dialing +1 (877) 407-3944 or +1 (412) 902-0038, with a confirmation code of 13756844, at least 10 minutes prior to the start to ensure smooth participation.
- Webcast and Replay: The conference call will be webcast on Liberty Broadband's investor relations site, with registration available via the provided link, and a replay will be accessible post-call for those unable to attend live.
- Company Background: Liberty Broadband's principal asset consists of its interest in Charter Communications, and this call will help investors better understand its strategic positioning and future growth directions in the telecommunications sector.
Meridian Fund Reports 1.67% Q3 Return Amid Liberty Broadband's Positive Outlook
- Market Environment Analysis: In the context of policy easing, the Meridian Hedged Equity Fund achieved a net return of 1.67% in Q3 2025, significantly trailing the S&P 500's 8.13% return, indicating a market shift away from fundamental concerns despite stagflation worries.
- Liberty Broadband Performance: Liberty Broadband Corporation (NASDAQ:LBRDK) posted a 2.86% return over the past month, yet its stock has declined by 33.59% over the last 52 weeks, reflecting mixed market sentiment regarding its future potential.
- Investment Case Elaboration: The Meridian Fund highlighted that Liberty Broadband's shares trade at a significant discount to its underlying assets, particularly its 26% stake in Charter Communications, with a prospective merger viewed as the principal catalyst for value realization.
- GCI Independence Development: Following the spin-off of GCI into a standalone entity in July, GCI's shares rose approximately 20% post-listing, providing new momentum for Liberty's future growth while allowing its management to focus on maximizing value from its Charter investment.
A 10% Dividend Might Rescue Charter Communications Stock
- Company Challenges: Charter Communications is facing significant difficulties in its operations and market position.
- Financial Strain: The company is experiencing financial pressures that may impact its future growth and stability.
- Market Competition: Increased competition in the telecommunications sector is contributing to Charter's challenges.
- Strategic Responses: Charter is likely exploring strategic options to address its current predicament and improve its standing in the market.
Paul Singer's Elliott Fund Focuses on Gold and Consumer Staples with New Puts — Makes Significant Bets on Tech
Elliott Investment Management's Market Strategy: Paul Singer's firm has shifted its market hedges, increasing its bearish position on gold miners while establishing a bullish stance on the Nasdaq 100, as indicated by its third-quarter 13F filing.
Significant Changes in Holdings: Elliott raised its put position on the VanEck Gold Miners ETF to 11.5 million shares and initiated a new call option on the Invesco QQQ Trust, reflecting a strategic focus on sector-specific opportunities.
New Positions in Consumer Staples and Energy: The firm also opened substantial new put options on the Consumer Staples Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, indicating a bearish outlook on these sectors.
Portfolio Growth and Exits: Elliott's total 13F portfolio value increased from $17.6 billion to $22.7 billion, while it exited significant positions in the S&P 500 ETF and the VanEck Semiconductor ETF, suggesting a shift in investment strategy.
Seth Klarman, a Protégé of Warren Buffett, Acquires New Shares in Railroad Company While Reducing Investment in This Magnificent Seven Stock
New Positions: Baupost Group, led by Seth Klarman, established new stakes in Union Pacific Corp, Genuine Parts Company, and Americold Realty Trust during the third quarter, with Union Pacific becoming one of the fund's top holdings.
Exited Positions: The hedge fund completely exited its investments in several companies, including Liberty Broadband Class A, Amcor PLC, and Viasat Inc, among others.
Changes to Existing Positions: Significant increases in shares were noted for Elevance Health (+114%) and Restaurant Brands International (+104%), while notable decreases were seen in WESCO International (-32%) and Alphabet Inc (-29%).
Top Holdings: As of September 30, the fund's major holdings included Restaurant Brands International (11%), Alphabet (9.4%), and Elevance Health (8.9%), with Dollar General being the only position that remained unchanged in the third quarter.
Oakmark Select Fund Outperforms Benchmark in Q4, Adds Target Resources
- Quarterly Performance: The Oakmark Select Fund Investor Class outperformed its benchmark in Q4, primarily driven by strong gains in the communication services and financial sectors, demonstrating resilience amid market volatility.
- Sector Impact Analysis: While the industrials sector was the only detractor, the overall strong performance reflects the fund's successful stock selection strategy.
- New Investment Positioning: The fund added Target Resources (TRGP) in Q4, a company controlling 90% of the fractionation capacity in the world's largest NGL hub, Mont Belvieu, indicating a bullish outlook on the midstream natural gas market.
- Asset Adjustment Strategy: The fund announced final sales of Charter Communications Cl A (CHTR), GCI Liberty Cl C (GLIBK), and Liberty Broadband Cl C (LBRDK), highlighting its proactive approach to optimizing the investment portfolio.
Liberty Broadband to Host GCI Liberty Q4 Earnings Call on February 11
- Earnings Call Announcement: Liberty Broadband has scheduled a Q4 earnings conference call for GCI Liberty on February 11 at 11:15 a.m. E.T., where management will discuss financial performance and outlook, aiming to enhance investor understanding of future developments.
- Participation Details: Interested shareholders and analysts can join the call by dialing +1 (877) 407-3944 or +1 (412) 902-0038, with a confirmation code of 13756844, at least 10 minutes prior to the start to ensure smooth participation.
- Webcast and Replay: The conference call will be webcast on Liberty Broadband's investor relations site, with registration available via the provided link, and a replay will be accessible post-call for those unable to attend live.
- Company Background: Liberty Broadband's principal asset consists of its interest in Charter Communications, and this call will help investors better understand its strategic positioning and future growth directions in the telecommunications sector.
Meridian Fund Reports 1.67% Q3 Return Amid Liberty Broadband's Positive Outlook
- Market Environment Analysis: In the context of policy easing, the Meridian Hedged Equity Fund achieved a net return of 1.67% in Q3 2025, significantly trailing the S&P 500's 8.13% return, indicating a market shift away from fundamental concerns despite stagflation worries.
- Liberty Broadband Performance: Liberty Broadband Corporation (NASDAQ:LBRDK) posted a 2.86% return over the past month, yet its stock has declined by 33.59% over the last 52 weeks, reflecting mixed market sentiment regarding its future potential.
- Investment Case Elaboration: The Meridian Fund highlighted that Liberty Broadband's shares trade at a significant discount to its underlying assets, particularly its 26% stake in Charter Communications, with a prospective merger viewed as the principal catalyst for value realization.
- GCI Independence Development: Following the spin-off of GCI into a standalone entity in July, GCI's shares rose approximately 20% post-listing, providing new momentum for Liberty's future growth while allowing its management to focus on maximizing value from its Charter investment.
A 10% Dividend Might Rescue Charter Communications Stock
- Company Challenges: Charter Communications is facing significant difficulties in its operations and market position.
- Financial Strain: The company is experiencing financial pressures that may impact its future growth and stability.
- Market Competition: Increased competition in the telecommunications sector is contributing to Charter's challenges.
- Strategic Responses: Charter is likely exploring strategic options to address its current predicament and improve its standing in the market.
Paul Singer's Elliott Fund Focuses on Gold and Consumer Staples with New Puts — Makes Significant Bets on Tech
Elliott Investment Management's Market Strategy: Paul Singer's firm has shifted its market hedges, increasing its bearish position on gold miners while establishing a bullish stance on the Nasdaq 100, as indicated by its third-quarter 13F filing.
Significant Changes in Holdings: Elliott raised its put position on the VanEck Gold Miners ETF to 11.5 million shares and initiated a new call option on the Invesco QQQ Trust, reflecting a strategic focus on sector-specific opportunities.
New Positions in Consumer Staples and Energy: The firm also opened substantial new put options on the Consumer Staples Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, indicating a bearish outlook on these sectors.
Portfolio Growth and Exits: Elliott's total 13F portfolio value increased from $17.6 billion to $22.7 billion, while it exited significant positions in the S&P 500 ETF and the VanEck Semiconductor ETF, suggesting a shift in investment strategy.
Seth Klarman, a Protégé of Warren Buffett, Acquires New Shares in Railroad Company While Reducing Investment in This Magnificent Seven Stock
New Positions: Baupost Group, led by Seth Klarman, established new stakes in Union Pacific Corp, Genuine Parts Company, and Americold Realty Trust during the third quarter, with Union Pacific becoming one of the fund's top holdings.
Exited Positions: The hedge fund completely exited its investments in several companies, including Liberty Broadband Class A, Amcor PLC, and Viasat Inc, among others.
Changes to Existing Positions: Significant increases in shares were noted for Elevance Health (+114%) and Restaurant Brands International (+104%), while notable decreases were seen in WESCO International (-32%) and Alphabet Inc (-29%).
Top Holdings: As of September 30, the fund's major holdings included Restaurant Brands International (11%), Alphabet (9.4%), and Elevance Health (8.9%), with Dollar General being the only position that remained unchanged in the third quarter.
