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A company insider recently sold 918 shares of Charter Communications Inc. [CHTR]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $2.81 million following the completion of this transaction.

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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 Citigroup on July 03, 2024, Charter Communications Inc. [CHTR] has been rated down from a Neutral to a Sell and the price target has been revised to $255 from $280. Analysts at Goldman started covering the stock with ‘”a Sell”‘ outlook in a report released in early July. As of April 29, 2024, Pivotal Research Group has reiterated its “Buy” rating for CHTR. Earlier on March 18, 2024, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for CHTR stock which previously was a “a Mkt perform”.

Analyzing CHTR Stock Performance

During the last five days, there has been a surge of approximately 3.30%. Over the course of the year, Charter Communications Inc. shares have dropped approximately -22.51%. Shares of the company reached a 52-week high of $393.50 on 01/02/24 and a 52-week low of $236.08 on 04/26/24. A 50-day SMA is recorded $276.43, while a 200-day SMA reached $339.12. Nevertheless, trading volume fell to 0.56 million shares from 1.16 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 298.42, which, if violated, would cause prices to drop to 295.59. In the upper region, resistance lies at 303.79. The next price resistance is at 306.33. RSI (Relative Strength Index) is 64.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.94, which suggests the price will increase in the coming days. Percent R is at 15.33%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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