The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Charter Communications Inc. shares valued at $265,518 were sold by Jacobson Craig A on Feb 28 ’24. At $289.24 per share, Jacobson Craig A sold 918 shares. The insider’s holdings dropped to 9,331 shares worth approximately $2.43 million following the completion of this transaction.
Also, Winfrey Christopher L purchased 5,050 shares, netting a total of over 1,491,214 in proceeds. Following the buying of shares at $295.29 each, the insider now holds 57,703 shares.
Before that, Rutledge Thomas had sold 83,970 shares from its account. In a trade valued at $34,496,611, the Executive Chairman traded Charter Communications Inc. shares for $410.82 each. Upon closing the transaction, the insider’s holdings decreased to 83,970 shares, worth approximately $0.0.
As published in a research note from Bernstein on March 18, 2024, Charter Communications Inc. [CHTR] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $370. Analysts at Rosenblatt downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of February 05, 2024, Pivotal Research Group has reiterated its “Buy” rating for CHTR. Earlier on February 05, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for CHTR stock which previously was a “an Overweight”.
Analyzing CHTR Stock Performance
During the last five days, there has been a drop of approximately -2.48%. Over the course of the year, Charter Communications Inc. shares have dropped approximately -33.13%. Shares of the company reached a 52-week high of $393.50 on 01/02/24 and a 52-week low of $254.31 on 04/16/24. A 50-day SMA is recorded $284.43, while a 200-day SMA reached $374.34. Nevertheless, trading volume fell to 0.86 million shares from 1.1 million shares the previous day.
Support And Resistance Levels for Charter Communications Inc. (CHTR)
According to the 24-hour chart, there is a support level at 256.71, which, if violated, would cause prices to drop to 253.50. In the upper region, resistance lies at 262.11. The next price resistance is at 264.30. RSI (Relative Strength Index) is 33.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.88, which suggests the price will decrease in the coming days. Percent R is at 84.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
