Exane Asset Management raised its position in ARRIS International plc (NASDAQ:ARRS) by 833.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,131 shares of the communications equipment provider’s stock after acquiring an additional 171,541 shares during the quarter. ARRIS International makes up about 3.0% of Exane Asset Management’s holdings, making the stock its 13th biggest holding. Exane Asset Management’s holdings in ARRIS International were worth $6,073,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of ARRS. CWM LLC lifted its position in shares of ARRIS International by 80.0% during the 1st quarter. CWM LLC now owns 900 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 400 shares during the last quarter. grace capital increased its stake in ARRIS International by 37.5% in the 4th quarter. grace capital now owns 5,500 shares of the communications equipment provider’s stock valued at $168,000 after buying an additional 1,500 shares during the period. Delta Capital Management LLC acquired a new position in ARRIS International in the 4th quarter valued at $227,000. World Asset Management Inc increased its stake in ARRIS International by 16.9% in the 1st quarter. World Asset Management Inc now owns 9,950 shares of the communications equipment provider’s stock valued at $315,000 after buying an additional 1,439 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in ARRIS International in the 1st quarter valued at $477,000. Institutional investors own 83.70% of the company’s stock.
In related news, CFO David Potts sold 15,523 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $31.65, for a total value of $491,302.95. Following the sale, the chief financial officer now directly owns 111,842 shares in the company, valued at approximately $3,539,799.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel T. Whalen sold 9,560 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $31.64, for a total transaction of $302,478.40. Following the completion of the sale, the insider now owns 15,000 shares in the company, valued at $474,600. The disclosure for this sale can be found here. Insiders sold a total of 45,500 shares of company stock worth $1,440,043 over the last quarter. Insiders own 1.00% of the company’s stock.
ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.01. ARRIS International had a net margin of 1.69% and a return on equity of 15.14%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of ARRIS International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 3rd. ValuEngine cut shares of ARRIS International from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.87.
ARRIS International Company Profile
ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. The company's Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.
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