Atlantic Investment Management Inc. lessened its holdings in shares of ARRIS International plc (NASDAQ:ARRS) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,955,906 shares of the communications equipment provider’s stock after selling 324,853 shares during the quarter. ARRIS International makes up 14.0% of Atlantic Investment Management Inc.’s portfolio, making the stock its 4th biggest position. Atlantic Investment Management Inc. owned 2.12% of ARRIS International worth $112,704,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in ARRS. Capstone Investment Advisors Netherlands B.V. purchased a new stake in ARRIS International in the second quarter worth $233,000. NGAM Advisors L.P. grew its stake in ARRIS International by 4.6% in the second quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock worth $313,000 after purchasing an additional 489 shares during the period. Fernwood Investment Management LLC grew its stake in ARRIS International by 16.9% in the second quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock worth $387,000 after purchasing an additional 2,000 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in ARRIS International in the third quarter worth $473,000. Finally, Quantbot Technologies LP purchased a new stake in ARRIS International in the third quarter worth $514,000. Institutional investors own 86.64% of the company’s stock.
In other ARRIS International news, SVP Patrick W. Macken sold 1,250 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $29.26, for a total value of $36,575.00. Following the transaction, the senior vice president now owns 4,556 shares of the company’s stock, valued at $133,308.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lawrence Robinson sold 4,167 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $30.00, for a total value of $125,010.00. Following the completion of the transaction, the insider now directly owns 71,721 shares in the company, valued at approximately $2,151,630. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
ARRIS International plc (ARRS) opened at $29.14 on Friday. The stock has a market capitalization of $5,487.20, a price-to-earnings ratio of 12.59, a PEG ratio of 1.27 and a beta of 1.39. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.65. ARRIS International plc has a 1-year low of $24.75 and a 1-year high of $31.52.
ARRIS International (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. ARRIS International had a return on equity of 14.02% and a net margin of 2.51%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. analysts predict that ARRIS International plc will post 2.32 EPS for the current year.
ARRS has been the topic of several recent research reports. BidaskClub cut ARRIS International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. ValuEngine cut ARRIS International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Jefferies Group set a $38.00 price target on ARRIS International and gave the stock a “buy” rating in a research note on Wednesday, October 4th. TheStreet raised ARRIS International from a “c+” rating to a “b” rating in a research note on Monday, October 9th. Finally, Northland Securities set a $25.00 target price on ARRIS International and gave the stock a “hold” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $33.89.
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ARRIS International Profile
ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.
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