How Has Smart Money Been Trading Charter Communications, Inc. (CHTR)?

Since Charter Communications, Inc. (NASDAQ:CHTR) has experienced a bearish sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of money managers that decided to sell off their entire stakes in the third quarter. It’s worth mentioning that Lee Ainslie’s Maverick Capital dropped the largest position of the 700 funds monitored by Insider Monkey, totaling about $153.6 million in stock, and Jim Simons’s Renaissance Technologies was right behind this move, as the fund dumped about $79.8 million worth of shares. These transactions are intriguing to say the least, as aggregate hedge fund interest fell by 9 funds in the third quarter.

Let’s now review hedge fund activity in other stocks similar to Charter Communications, Inc. (NASDAQ:CHTR). We will take a look at Sun Life Financial Inc. (USA) (NYSE:SLF), Moody’s Corporation (NYSE:MCO), SunTrust Banks, Inc. (NYSE:STI), and Magna International Inc. (USA) (NYSE:MGA). All of these stocks’ market caps are similar to CHTR’s market cap.

As you can see these stocks had an average of 32 hedge funds with bullish positions and the average amount invested in these stocks was $1.35 billion. SunTrust Banks, Inc. (NYSE:STI) is the most popular stock in this table, while Sun Life Financial Inc. (USA) (NYSE:SLF) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Charter Communications, Inc. (NASDAQ:CHTR) is more popular among hedge funds. Moreover, hedge funds have amassed $11.26 billion worth of its stock at the end of September. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.