ARRIS International plc (ARRS) Shares Bought by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lifted its stake in ARRIS International plc (NASDAQ:ARRS) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,457 shares of the communications equipment provider’s stock after purchasing an additional 4,375 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in ARRIS International were worth $3,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FNY Partners Fund LP purchased a new stake in shares of ARRIS International in the fourth quarter worth approximately $100,000. Icon Advisers Inc. Co. purchased a new stake in shares of ARRIS International in the fourth quarter worth approximately $206,000. Capital Fund Management S.A. lifted its position in shares of ARRIS International by 25.5% in the fourth quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock worth $316,000 after purchasing an additional 2,500 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in shares of ARRIS International in the fourth quarter worth approximately $361,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of ARRIS International in the third quarter worth approximately $473,000. 88.44% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Bruce William Mcclelland purchased 1,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $24.72 per share, for a total transaction of $37,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 217,658 shares in the company, valued at approximately $5,380,505.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Philip Charles Baldock sold 4,930 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $26.11, for a total value of $128,722.30. Following the transaction, the senior vice president now owns 13,529 shares in the company, valued at approximately $353,242.19. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 9,500 shares of company stock worth $241,440. Corporate insiders own 0.90% of the company’s stock.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data 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 firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last 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. equities analysts expect that ARRIS International plc will post 2.54 EPS for the current year.
ARRS has been the subject of a number of research analyst reports. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Raymond James Financial set a $38.00 price objective on shares of ARRIS International and gave the company a “buy” rating in a research report on Monday, December 4th. BidaskClub lowered shares of ARRIS International from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Morgan Stanley lowered 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 research report on Tuesday, December 19th. Finally, Zacks Investment Research lowered shares of ARRIS International from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.20.
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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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