Who’s betting on Charter Communications, Inc. (NASDAQ:CHTR)?
In today’s marketplace, there are tons of indicators investors can use to watch publicly traded companies. A couple of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best investment managers can outperform their index-focused peers by a significant amount (see just how much).
Equally as necessary, bullish insider trading sentiment is another way to look at the investments you’re interested in. Obviously, there are plenty of reasons for an executive to drop shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many academic studies have demonstrated the valuable potential of this method if “monkeys” know where to look (learn more here).
What’s more, we’re going to analyze the latest info surrounding Charter Communications, Inc. (NASDAQ:CHTR).
How are hedge funds trading Charter Communications, Inc. (NASDAQ:CHTR)?
In preparation for the third quarter, a total of 58 of the hedge funds we track were long in this stock, a change of 7% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings meaningfully.
When using filings from the hedgies we track, SPO Advisory Corp, managed by John H. Scully, holds the biggest position in Charter Communications, Inc. (NASDAQ:CHTR). SPO Advisory Corp has a $772.4 million position in the stock, comprising 10.4% of its 13F portfolio. Sitting at the No. 2 spot is Stephen Mandel of Lone Pine Capital, with a $455.1 million position; 2.2% of its 13F portfolio is allocated to the company. Remaining hedgies with similar optimism include Philippe Laffont’s Coatue Management, Robert Pitts’s Steadfast Capital Management and D. E. Shaw’s D E Shaw.
As aggregate interest spiked, particular hedge funds were breaking ground themselves. SPO Advisory Corp, managed by John H. Scully, initiated the most valuable position in Charter Communications, Inc. (NASDAQ:CHTR). SPO Advisory Corp had 772.4 million invested in the company at the end of the quarter. Stephen Mandel’s Lone Pine Capital also initiated a $455.1 million position during the quarter. The following funds were also among the new CHTR investors: Philippe Laffont’s Coatue Management, Robert Pitts’s Steadfast Capital Management, and D. E. Shaw’s D E Shaw.
Insider trading activity in Charter Communications, Inc. (NASDAQ:CHTR)
Legal insider trading, particularly when it’s bullish, is at its handiest when the primary stock in question has seen transactions within the past half-year. Over the last 180-day time frame, Charter Communications, Inc. (NASDAQ:CHTR) has seen 1 unique insiders buying, and 13 insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Charter Communications, Inc. (NASDAQ:CHTR). These stocks are Discovery Communications Inc. (NASDAQ:DISCA), Liberty Global Inc. (NASDAQ:LBTYA), DISH Network Corp. (NASDAQ:DISH), Virgin Media Inc. (NASDAQ:VMED), and Shaw Communications Inc (USA) (NYSE:SJR). All of these stocks are in the catv systems industry and their market caps resemble CHTR’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Discovery Communications Inc. (NASDAQ:DISCA) | 13 | 1 | 6 |
| Liberty Global Inc. (NASDAQ:LBTYA) | 78 | 0 | 0 |
| DISH Network Corp. (NASDAQ:DISH) | 56 | 0 | 14 |
| Virgin Media Inc. (NASDAQ:VMED) | 0 | 11 | |
| Shaw Communications Inc (USA) (NYSE:SJR) | 6 | 0 | 0 |
Using the returns shown by Insider Monkey’s strategies, regular investors must always keep one eye on hedge fund and insider trading activity, and Charter Communications, Inc. (NASDAQ:CHTR) shareholders fit into this picture quite nicely.
