Do Hedge Funds Love Charter Communications, Inc. (CHTR)?

With a general bullishness amongst the heavyweights, specific money managers have jumped into Charter Communications, Inc. (NASDAQ:CHTR) headfirst. Maverick Capital, managed by Lee Ainslie, created the most outsized position in Charter Communications, Inc. (NASDAQ:CHTR). Maverick Capital had $174.4 million invested in the company at the end of the quarter. Howard Guberman’s Gruss Asset Management also made a $139.2 million investment in the stock during the fourth quarter. The other funds with brand new CHTR positions are Yen Liow’s Aravt Global, Jacob Doft’s Highline Capital Management, and John Lykouretzos’s Hoplite Capital Management.

Let’s check out hedge fund activity in other stocks similar to Charter Communications, Inc. (NASDAQ:CHTR). These stocks are Southern Copper Corp (NYSE:SCCO), Intuitive Surgical, Inc. (NASDAQ:ISRG), Incyte Corporation (NASDAQ:INCY), and Baker Hughes Incorporated (NYSE:BHI). This group of stocks’ market valuations are closest to CHTR’s market valuation.

As you can see these stocks had an average of 31 hedge funds with bullish positions and the average amount invested in these stocks was $1.77 billion. That figure was $10.85 billion in CHTR’s case. Baker Hughes Incorporated (NYSE:BHI) is the most popular stock in this table with a total of 47 funds holding long positions, while Southern Copper Corp (NYSE:SCCO) is the least popular one. Compared to these stocks Charter Communications, Inc. (NASDAQ:CHTR) is more popular among hedge funds. 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.