Charter Communications (CHTR) is higher Thursday as traders react to a fresh insider-buying signal following the stock’s steep drop after its late-April earnings report. An SEC-filed transaction shows director Wade Davis purchased 5,728 shares at an average price of $173.72 on April 28, totaling about $995,068, materially increasing his personal stake and helping spark a rebound bid in the shares.

The purchase lands just days after a major reset in expectations for Charter’s near-term operating trajectory, when investors punished the stock on concerns tied to broadband subscriber trends and profitability expectations. Against that backdrop, an open-market buy by a board member is being interpreted as a valuation signal and a vote of confidence that the selloff overshot fundamentals, helping attract dip buyers and drive a relief rally.

Investors will be watching for follow-through signs that selling pressure has exhausted, including additional insider activity, buyback pace, and any incremental updates around Charter’s planned Cox combination and related regulatory approvals. Near-term trading may remain volatile as the market digests post-earnings revisions, but today’s move suggests sentiment is attempting to stabilize after last week’s shock move.