Shares of Comcast Corporation (CMCSA) Sees Large Outflow of Money

Comcast Corporation (CMCSA) : Wednesdays money flow analysis of Comcast Corporation (CMCSA) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $70.87 million. In comparison, the inflow of money on upticks was a meager $45.5 million. The dollar value of composite uptick trades minus the downtick trades was negative $25.37 million. The uptick to downtick ratio of 0.64 in the money flow shows weakness. The uptick block trades were valued at $1.68 million. The downtick transaction value was high at $31.84 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.05. Hence, the net money flow in the stock was negative ($30.16 million). Comcast Corporation (CMCSA) gained $0.03 at $67.12, a change of 0.04% over the previous days close.


Also, Equity Analysts at the Brokerage Firm, Goldman Sachs, maintains their rating on the shares of Comcast Corporation (NASDAQ:CMCSA). Goldman Sachs has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $70 per share from a prior target of $69. The rating by the firm was issued on May 4, 2016.

Comcast Corporation (NASDAQ:CMCSA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $67.02 and $66.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $67.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $67.12, notching a gain of 0.04% for the day. The total traded volume was 5,942,563 . The stock had closed at $67.09 on the previous day.

The stock has recorded a 20-day Moving Average of 3.24% and the 50-Day Moving Average is 6.05%. In a related news,The director of Comcast Corp, Bacon Kenneth J sold 2,500 shares at $62.82 on June 16, 2016. The Insider selling transaction had a total value worth of $157,050. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Comcast Corporation is a media and technology company. The Company has two primary businesses, Comcast Cable and NBCUniversal. The Companys business line comprises five segments: Cable Communications; Cable Networks; Broadcast Television; Filmed Entertainment, and Theme Parks. Cable Communications consists of the operations of Comcast Cable, a provider of video, high-speed Internet and voice services under the XFINITY brand. Cable Networks consists primarily of its national cable networks, regional sports and news networks, international cable networks, and its cable television production operations. Broadcast Television consists primarily of the NBC and Telemundo broadcast networks. Filmed Entertainment consists primarily of the studio operations of Universal Pictures. Theme Parks consists primarily of its Universal theme parks. The Companys other business interests consist of Comcast-Spectacor and the Wells Fargo Center arena.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.