Quantitative Systematic Strategies LLC acquired a new position in shares of Arris Group Inc. (NASDAQ:ARRS) during the second quarter, Holdings Channel reports. The institutional investor acquired 13,105 shares of the company’s stock, valued at approximately $270,000.
Other large investors also recently added to or reduced their stakes in the company. CKW Financial Group bought a new stake in Arris Group during the second quarter worth $123,000. MU Investments Co. Ltd. bought a new stake in Arris Group during the second quarter worth $132,000. Fox Run Management L.L.C. bought a new stake in Arris Group during the second quarter worth $218,000. LS Investment Advisors LLC increased its stake in Arris Group by 65.2% in the second quarter. LS Investment Advisors LLC now owns 10,506 shares of the company’s stock worth $220,000 after buying an additional 4,145 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its stake in Arris Group by 15.5% in the second quarter. 1st Global Advisors Inc. now owns 11,682 shares of the company’s stock worth $245,000 after buying an additional 1,567 shares during the last quarter. 85.06% of the stock is currently owned by institutional investors.
Arris Group Inc. (NASDAQ:ARRS) traded up 0.18% during mid-day trading on Friday, reaching $28.62. 1,366,178 shares of the company’s stock were exchanged. The firm’s market cap is $5.46 billion. The stock has a 50-day moving average of $28.25 and a 200-day moving average of $24.94. Arris Group Inc. has a 12 month low of $20.05 and a 12 month high of $32.93.
Arris Group (NASDAQ:ARRS) last announced its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.19. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 37.3% compared to the same quarter last year. Analysts anticipate that Arris Group Inc. will post $2.82 earnings per share for the current year.
ARRS has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Arris Group in a research note on Tuesday, September 13th. TheStreet upgraded shares of Arris Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Jefferies Group lifted their target price on shares of Arris Group from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research cut shares of Arris Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $33.00 target price (up previously from $31.00) on shares of Arris Group in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.20.
In other Arris Group news, insider Ronald Coppock sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $28.50, for a total transaction of $285,000.00. Following the transaction, the insider now owns 24,750 shares in the company, valued at approximately $705,375. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bruce William Mcclelland bought 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were acquired at an average price of $27.15 per share, for a total transaction of $135,750.00. Following the transaction, the insider now owns 174,288 shares in the company, valued at $4,731,919.20. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
Arris Group Company Profile
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem.
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