Large Inflow of Money Detected in Charter Communications

Charter Communications (CHTR) : Wednesdays money flow data in Charter Communications (CHTR) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $42.38 million, whereas, $39.12 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.08, in favor of the bulls. The total money flow into the stock was $3.26 million clearly indicating that the smart money has been buying into the stock on weakness.

In comparison, the money flow in block deals was $-3.02 million. The total value of block trades done on upticks was $2.67 million. The value of bearish trades on downticks was only $5.69 million.The up/down ratio in the block trades was a healthy 0.47 in favor of the bulls, suggesting strong buying in the stock by large traders. Charter Communications (CHTR) fell $0.36 and traded at $231.65, down -0.16% for the day, over previous days close. On a weekly basis, the shares are -1.42% over the previous weeks close.


Also, Major Brokerage house, Citigroup maintains its ratings on Charter Communications (NASDAQ:CHTR). In the latest research report, Citigroup maintains the target price to $270 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 16, 2016.

Charter Communications (NASDAQ:CHTR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $232.91 and $227.63 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $236.54. The buying momentum continued till the end and the stock did not give up its gains. It closed at $236.19, notching a gain of 1.80% for the day. The total traded volume was 1,987,124 . The stock had closed at $232.01 on the previous day.

The stock has recorded a 20-day Moving Average of 2.63% and the 50-Day Moving Average is 5.13%. In a related news, Hargis Jonathan, officer (EVP/Chief Marketing Officer) of Charter Communications, Inc. /Mo/, unloaded 6,350 shares at an average price of $215.04 on May 2, 2016. The total amount of the transaction was worth $1,365,504, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Charter Communications, Inc. (Charter) is a provider of cable services in the United States, offering a variety of entertainment, information and communications solutions to residential and commercial customers. The Company sells its video, Internet and voice services primarily on a subscription basis, often in a bundle of two or more services. The Company provides broadband communications solutions to business and carrier organizations, such as video entertainment services, Internet access, business telephone services, data networking and fiber connectivity to cellular towers and office buildings. Through its hybrid fiber and coaxial cable network, the Company offers its customers traditional cable video services, as well as advanced video services, Internet services and voice services. The Companys voice services are primarily provided using voice over Internet protocol (VoIP) technology, to transmit digital voice signals over the Companys systems.

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