Earnest Partners LLC cut its stake in ARRIS International plc (NASDAQ:ARRS) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,751 shares of the communications equipment provider’s stock after selling 46,187 shares during the quarter. Earnest Partners LLC owned 0.31% of ARRIS International worth $15,125,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in ARRS. Strs Ohio grew its stake in shares of ARRIS International by 78.0% in the fourth quarter. Strs Ohio now owns 3,310,000 shares of the communications equipment provider’s stock worth $85,033,000 after acquiring an additional 1,450,000 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of ARRIS International in the third quarter worth approximately $17,042,000. Channing Capital Management LLC purchased a new position in shares of ARRIS International in the fourth quarter worth approximately $13,206,000. Lyrical Asset Management LP boosted its holdings in shares of ARRIS International by 4.9% in the fourth quarter. Lyrical Asset Management LP now owns 5,212,711 shares of the communications equipment provider’s stock worth $133,915,000 after buying an additional 245,020 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of ARRIS International by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 5,385,138 shares of the communications equipment provider’s stock worth $153,423,000 after buying an additional 140,548 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.
In related news, CEO Bruce William Mcclelland bought 2,000 shares of the stock in a transaction dated Friday, February 16th. The shares were purchased at an average price of $25.91 per share, with a total value of $51,820.00. Following the completion of the acquisition, the chief executive officer now owns 216,158 shares of the company’s stock, valued at $5,600,653.78. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Philip Charles Baldock sold 4,930 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $26.11, for a total transaction of $128,722.30. Following the completion of the transaction, the senior vice president now directly owns 13,529 shares in the company, valued at approximately $353,242.19. The disclosure for this sale can be found here. Insiders have acquired 9,500 shares of company stock worth $241,440 in the last ninety days. Insiders own 0.90% of the company’s stock.
Shares of ARRIS International stock traded up $0.10 during trading hours on Thursday, reaching $27.46. 901,841 shares of the company’s stock traded hands, compared to its average volume of 1,513,520. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.08. ARRIS International plc has a twelve month low of $22.60 and a twelve month high of $30.38. The stock has a market capitalization of $4,969.96, a P/E ratio of 55.78, a P/E/G ratio of 1.06 and a beta of 1.21.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings results on Wednesday, February 14th. The communications equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. ARRIS International had a net margin of 1.41% and a return on equity of 14.69%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. research analysts expect that ARRIS International plc will post 2.54 EPS for the current year.
A number of equities analysts recently issued reports on ARRS shares. BidaskClub downgraded shares of ARRIS International from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Zacks Investment Research downgraded shares of ARRIS International from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 31st. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Morgan Stanley downgraded shares of ARRIS International from an “overweight” rating to an “equal weight” rating and set a $31.00 price objective on the stock. in a report on Tuesday, December 19th. Finally, Raymond James Financial set a $38.00 price objective on shares of ARRIS International and gave the stock a “buy” rating in a report on Monday, December 4th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $33.33.
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ARRIS International Company 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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