5 Best Communication Services Stocks To Invest In

3. Charter Communications, Inc. (NASDAQ:CHTR)

Number of Hedge Fund Holders: 68

Charter Communications, Inc. (NASDAQ:CHTR) was founded in 1993 and is headquartered in Stamford, Connecticut. It operates as a broadband connectivity and cable operator company, catering to residential and commercial customers in the United States. It is one of the top communication stocks to consider. 

On January 5, Truist analyst Greg Miller upgraded both Charter Communications, Inc. (NASDAQ:CHTR) to Buy from Hold with a price target of $550, up from $380. The analyst believes the risks facing the company from fixed wireless and fiber are now “well understood,” leaving the shares oversold. 

According to Insider Monkey’s Q3 data, Charter Communications, Inc. (NASDAQ:CHTR) was part of 68 hedge fund portfolios at the end of Q3 2022, and Harris Associates is the biggest stakeholder of the company, with 4.3 million shares worth $1.3 billion. 

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.”