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 $2.93 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 155,756 shares from its account. In a trade valued at $64,099,867, the Executive Chairman traded Charter Communications Inc. shares for $411.54 each. Upon closing the transaction, the insider’s holdings decreased to 155,756 shares, worth approximately $26.41 million.
As published in their initiating research note from RBC Capital Mkts on September 19, 2024, Charter Communications Inc. [CHTR] has been a Sector perform and the price target has been revised to $345. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of July 31, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for CHTR. Earlier on July 29, 2024, Raymond James downgraded its rating. Their new recommendation was “an Underperform” for CHTR stock which previously was a “a Mkt perform”.
Analyzing CHTR Stock Performance
During the last five days, there has been a drop of approximately -7.40%. Over the course of the year, Charter Communications Inc. shares have dropped approximately -19.09%. 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 $344.20, while a 200-day SMA reached $315.46. Nevertheless, trading volume fell to 1.99 million shares from 1.83 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 310.39, which, if violated, would cause prices to drop to 306.29. In the upper region, resistance lies at 321.79. The next price resistance is at 329.10. RSI (Relative Strength Index) is 33.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.98, which suggests the price will decrease in the coming days. Percent R is at 97.34%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
