Cerity Partners Raises Charter Holdings 181% to $12.76M; UBS Cuts Target to $233
Cerity Partners LLC boosted its Charter Communications stake by 181% to 46,390 shares worth $12.76M in Q3. UBS cut its price target on Charter from $355 to $233 and Oppenheimer downgraded the stock to market perform, contributing to a consensus “Reduce” rating with an average target of $321.13.
1. Charter Expands Spectrum Scholars Initiative
Charter Communications has launched applications for the sixth cohort of its Spectrum Scholars program, offering 15 rising college juniors $20,000 scholarships each, totaling $300,000 for the class of 2026. Since 2020, the program’s cumulative investment has exceeded $2 million. Awardees participate in a two-year professional development curriculum that includes one-on-one mentoring, career-readiness workshops and leadership events, plus a paid internship at one of five corporate hubs in Stamford, Austin, Charlotte, Denver or St. Louis. Applications close April 3.
2. Cerity Partners Boosts Stake in Charter
In its latest 13F filing, Cerity Partners LLC disclosed a 181.2% increase in its Charter Communications position, acquiring an additional 29,895 shares to bring its total to 46,390 shares, valued at $12.76 million at period end. Other notable institutional moves include a 113.7% increase by Y Intercept Hong Kong Ltd to 8,031 shares, Los Angeles Capital Management’s 11.8% upswing to 38,041 shares, and Vanguard Personalized Indexing Management’s 25.6% rise to 14,691 shares. Overall, institutions and hedge funds now hold more than 81% of Charter’s outstanding shares.
3. Mixed Analyst Ratings and Q3 Earnings Miss
Charter reported third-quarter revenue of $13.67 billion, down 0.7% year-over-year, with EPS of $8.34 falling short of the $9.66 consensus. Net margin stood at 9.29% and return on equity at 25.55%. Wall Street sentiment remains cautious: four firms maintain Buy ratings, ten have Holds and six carry Sell recommendations, yielding a consensus view of “Reduce.” Price targets have been revised downward by several brokerages over the past quarter, reflecting near-term concerns over subscriber trends and leverage levels.