Charter Communications (NASDAQ:CHTR) Stock Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Charter shares crossed above their 50-day moving average, trading as high as $127.16 and last changing hands at $125.86, versus a 50-day average of $121.54. The stock remains below its 200-day average of $163.66.
• Analyst sentiment is mixed: five analysts rate the stock Buy, nine Hold and seven Sell, resulting in a MarketBeat consensus of “Reduce” and an average price target of $200.18.
• Several institutional investors increased or initiated positions in Charter, while institutional investors and hedge funds collectively own 81.76% of its shares.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $121.54 and traded as high as $127.16. Charter Communications shares last traded at $125.86, with a volume of 4,490,033 shares traded.

Analyst Ratings Changes

CHTR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $150.00 price target on shares of Charter Communications in a report on Monday, July 27th. TD Cowen decreased their price target on Charter Communications from $413.00 to $380.00 and set a "buy" rating for the company in a report on Monday, July 27th. Finally, Bank of America reaffirmed a "buy" rating on shares of Charter Communications in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $200.18.

Charter Communications Price Performance

The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock has a fifty day simple moving average of $121.54 and a two-hundred day simple moving average of $163.66. The company has a market cap of $15.01 billion, a PE ratio of 3.27, a price-to-earnings-growth ratio of 0.25 and a beta of 0.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its holdings in shares of Charter Communications by 3,624.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 60,224 shares of the company's stock valued at $6,679,000 after purchasing an additional 58,607 shares during the last quarter. Krilogy Financial LLC boosted its position in Charter Communications by 278.6% in the third quarter. Krilogy Financial LLC now owns 21,293 shares of the company's stock valued at $2,361,000 after buying an additional 15,669 shares in the last quarter. Polianta Ltd acquired a new stake in Charter Communications in the second quarter valued at approximately $1,777,000. Quantinno Capital Management LP grew its stake in shares of Charter Communications by 54.3% during the first quarter. Quantinno Capital Management LP now owns 45,828 shares of the company's stock worth $9,893,000 after buying an additional 16,118 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Charter Communications during the second quarter worth $3,637,000. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.

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