Charter Communications (NASDAQ:CHTR) Stock Breaks Above 50-Day Moving Average – Time to Sell?

Shares of Charter Communications, Inc. (NASDAQ:CHTR) 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 trading hands.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several recent research reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $150.00 target price on shares of Charter Communications in a research report on Monday, July 27th. Benchmark reaffirmed a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Citigroup cut their price target on shares of Charter Communications from $180.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday. BNP Paribas Exane reduced their price objective on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group reduced their price objective on shares of Charter Communications from $120.00 to $110.00 and set a “sell” rating on the stock in a research note on Friday, September 25th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $200.18.

Charter Communications Price Performance

The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of 3.27, a PEG ratio of 0.25 and a beta of 0.73. The business’s fifty day simple moving average is $121.54 and its 200 day simple moving average is $163.66.

Institutional Trading of Charter Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Charter Communications by 28.4% in the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after buying an additional 161,888 shares during the last quarter. State of Michigan Retirement System grew its position in Charter Communications by 1,547.4% in the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after purchasing an additional 405,385 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock worth $46,565,000 after purchasing an additional 342,668 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Charter Communications by 562.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company’s stock valued at $36,426,000 after buying an additional 278,898 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Charter Communications by 79.2% in the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock valued at $54,078,000 after buying an additional 110,684 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

About Charter Communications

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.