Comcast Co. (NASDAQ:CMCSA) Sees Significant Increase in Short Interest

Comcast Co. (NASDAQ:CMCSA) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 81,374,800 shares, a growth of 8.9% from the June 30th total of 74,728,100 shares. Based on an average daily trading volume, of 18,500,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 1.8% of the shares of the company are short sold.

Several research firms have recently weighed in on CMCSA. Macquarie began coverage on shares of Comcast in a report on Wednesday, June 19th. They issued a “buy” rating and a $50.00 target price on the stock. BidaskClub lowered shares of Comcast from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays upped their target price on shares of Comcast from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Goldman Sachs Group upgraded shares of Comcast from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $54.00 in a research report on Wednesday, July 10th. Finally, TD Securities upped their price target on shares of Comcast from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.44.

Comcast stock traded down $1.14 during trading hours on Wednesday, reaching $42.32. 1,178,127 shares of the company’s stock traded hands, compared to its average volume of 18,792,693. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.69 and a quick ratio of 0.69. Comcast has a fifty-two week low of $32.61 and a fifty-two week high of $45.29. The company has a market cap of $194.84 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The business’s 50 day moving average price is $43.39.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The company had revenue of $26.86 billion for the quarter, compared to the consensus estimate of $27.08 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was up 23.6% compared to the same quarter last year. On average, analysts forecast that Comcast will post 3.07 EPS for the current fiscal year.

In other news, SVP Daniel C. Murdock sold 1,701 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $41.46, for a total value of $70,523.46. Following the sale, the senior vice president now owns 4,712 shares of the company’s stock, valued at approximately $195,359.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.35% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its position in shares of Comcast by 3.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 639,819 shares of the cable giant’s stock valued at $27,051,000 after acquiring an additional 19,495 shares during the period. PDS Planning Inc acquired a new stake in shares of Comcast in the 1st quarter valued at approximately $226,000. Cibc Bank USA raised its position in shares of Comcast by 23.1% in the 2nd quarter. Cibc Bank USA now owns 27,072 shares of the cable giant’s stock valued at $1,145,000 after acquiring an additional 5,079 shares during the period. Ironwood Investment Counsel LLC raised its position in shares of Comcast by 0.5% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 51,524 shares of the cable giant’s stock valued at $2,178,000 after acquiring an additional 243 shares during the period. Finally, JGP Wealth Management LLC raised its position in shares of Comcast by 1.6% in the 2nd quarter. JGP Wealth Management LLC now owns 98,942 shares of the cable giant’s stock valued at $4,183,000 after acquiring an additional 1,570 shares during the period. Institutional investors own 82.66% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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