Pzena Investment Management recently released its third-quarter 2025 commentary for “Pzena Focused Value Strategy.” A copy of the letter can be downloaded here. Driven by optimism about AI and a September rate cut, US broad-based indexes surged in the third quarter. The technology sector was the strongest performer, with growth outpacing value. The Pzena Focused Value strategy gained but underperformed the Russell 1000 Value Index, returning 1.1% gross and 0.9% net vs. 5.3% for the index. In addition, pleas ...

Core Insights - Charter Communications Inc. has received a lowered price target from RBC Capital, now set at $265 from a previous $325, following disappointing Q3 2025 earnings results [1] - The company reported a 1% year-over-year decline in revenue to $13.67 billion, attributed to customer losses and a tough comparison to last year's political advertising revenue [2] - Despite the revenue decline, Charter's mobile segment saw significant growth, adding 493,000 mobile lines, representing over 20% year-over-year growth [3] Financial Performance - Q3 revenue declined by 1% year-over-year to $13.67 billion, primarily due to customer losses and reduced political advertising revenue [2] - EBITDA decreased by 1.5% year-over-year, remaining flat when excluding the advertising segment [2] - Net income for the quarter was $1.1 billion, down from $1.3 billion in the previous year [2] Subscriber Metrics - Charter's broadband subscriber numbers missed estimates, prompting RBC Capital to lower forecasts for broadband subscribers and ARPU [1] - The company experienced a notable improvement in its video business, reducing video customer losses to 70,000, a significant improvement from 294,000 lost in the same quarter last year [3] - However, Charter lost 109,000 Internet customers in Q3 [3] Market Position - Charter Communications operates as a broadband connectivity and cable operator serving residential and commercial customers in the US [4] - While Charter is recognized as a potential investment, analysts suggest that certain AI stocks may offer greater upside potential with less downside risk [4]

Group 1 - Oakmark Equity and Income Fund underperformed the S&P 500 / Bloomberg U.S. Aggregate Bond Index in Q3 2025, with a return of 3.64% for equities and 2.40% for fixed income [1] - The Fund's allocation was 59.6% in equities, 39.3% in fixed income, and 1.1% in cash [1] - Charter Communications, Inc. was highlighted as a top detractor in the Fund's performance, with a stock price decline following weak Q2 earnings and a significant drop in broadband subscriptions [3] Group 2 - Charter Communications, Inc. had a one-month return of 1.59% but lost 18.72% of its value over the last 52 weeks, closing at $265.00 per share with a market capitalization of $36.197 billion [2] - Despite near-term volatility in subscriber results, the company’s average revenue per user (ARPU) growth accelerated, indicating potential long-term competitiveness [3] - Charter Communications is not among the 30 Most Popular Stocks Among Hedge Funds, with a decrease in hedge fund holdings from 59 to 56 [4]

Core Viewpoint - A corrected notice has been issued regarding the deadline for investors to seek appointment as Lead Plaintiff in a class action lawsuit against Charter Communications, with the new deadline set for October 14, 2025 [1][3]. Group 1: Class Action Details - The class action, titled Sandoval v. Communications, Inc., is filed on behalf of individuals who purchased or acquired Charter common stock or traded relevant options between July 26, 2024, and July 24, 2025 [2]. - The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act and SEC Rule 10b-5, claiming that the defendants failed to disclose material adverse facts about the company's operations and outlook [2]. Group 2: Allegations Against Charter - The complaint asserts that the defendants made misleading statements regarding the impact of the FCC's Affordable Connectivity Program (ACP) ending, which affected internet customer declines and revenue [5]. - It is claimed that Charter's management did not adequately address the consequences of the ACP ending, leading to greater risks to business plans and earnings growth than reported [5]. Group 3: Financial Performance and Market Reaction - Charter reported an EBITDA of $5.7 billion for Q2 2025, reflecting a 0.5% year-over-year growth, but this was largely due to a one-time benefit of $45 million, which, if excluded, would have resulted in a 2.4% miss against consensus estimates and a 0.3% decline year-over-year [6]. - The company experienced a loss of 117,000 internet customers in Q2 2025, nearly double the loss of 66,000 in the previous quarter and an increase from a loss of 99,000 customers in Q2 2024 [7]. - Following the financial results announcement, Charter's stock price fell by $70.25 per share, or 18.4%, closing at $309.75 on July 25, 2025 [7].

Core Viewpoint - The article discusses a class action lawsuit against Charter Communications, alleging violations of the Securities Exchange Act of 1934 due to misleading statements and failure to disclose significant impacts on the company's performance related to the end of the Federal Communications Commission's Affordable Connectivity Program [1][4]. Group 1: Lawsuit Details - The class action lawsuit is titled Sandoval v. Charter Communications, Inc., and it involves purchasers or acquirers of Charter Communications securities from July 26, 2024, to July 24, 2025 [1]. - Investors have until October 14, 2025, to seek appointment as lead plaintiff in the lawsuit [2][6]. - The lawsuit alleges that Charter Communications and its executives made false statements regarding the company's ability to manage the impact of the Affordable Connectivity Program's end, which affected customer retention and revenue [4]. Group 2: Financial Impact - On July 25, 2025, Charter Communications reported second quarter 2025 financial results, showing EBITDA of $5.7 billion, indicating a growth of 0.5% [5]. - The company experienced a decline of 117,000 Internet customers, with approximately 50,000 disconnects attributed to the end of the Affordable Connectivity Program [5]. - Following the financial results announcement, Charter Communications' stock price fell by more than 18% [5]. Group 3: Company Background - Charter Communications operates as a broadband connectivity and cable operator, serving both residential and commercial customers [3]. - Robbins Geller Rudman & Dowd LLP, the law firm representing the investors, is recognized for its significant recoveries in securities fraud cases, having recovered over $2.5 billion for investors in 2024 alone [7].

Core Viewpoint - A class action lawsuit has been filed against Charter Communications, alleging violations of the Securities Exchange Act of 1934 due to misleading statements regarding the impact of the Federal Communications Commission's Affordable Connectivity Program (ACP) on the company's performance [1][4]. Group 1: Lawsuit Details - The lawsuit, titled Sandoval v. Charter Communications, Inc., seeks to represent purchasers or acquirers of Charter Communications securities, including call options and put options [1]. - Allegations include that Charter Communications failed to disclose the material impact of the ACP's end, which led to a decline in Internet customers and revenue [4]. - The lawsuit claims that the company did not manage the consequences of the ACP ending effectively, resulting in greater risks to business plans and earnings growth than reported [4]. Group 2: Financial Impact - On July 25, 2025, Charter Communications reported second quarter 2025 financial results, showing EBITDA of $5.7 billion, reflecting a growth of 0.5% [5]. - The company experienced a decline of 117,000 Internet customers, with approximately 50,000 disconnects attributed to the end of the ACP [5]. - Following the financial results announcement, Charter Communications' stock price fell by more than 18% [5]. Group 3: Legal Process - Investors who suffered substantial losses can seek to serve as lead plaintiff in the class action lawsuit, with motions due by October 14, 2025 [2][6]. - The lead plaintiff will represent the interests of all class members and can choose a law firm to litigate the case [6]. Group 4: Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7]. - The firm has a strong track record in obtaining significant recoveries in securities class action cases, including the largest recovery in history of $7.2 billion in the Enron case [7].