Cornerstone Capital Management Holdings LLC. Acquires Shares of 598,226 ARRIS International plc (ARRS)

Cornerstone Capital Management Holdings LLC. acquired a new stake in ARRIS International plc (NASDAQ:ARRS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 598,226 shares of the communications equipment provider’s stock, valued at approximately $17,042,000. Cornerstone Capital Management Holdings LLC. owned approximately 0.32% of ARRIS International at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NGAM Advisors L.P. grew its stake in shares of ARRIS International by 4.6% in the second quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock valued at $313,000 after buying an additional 489 shares in the last quarter. Fernwood Investment Management LLC grew its stake in shares of ARRIS International by 16.9% in the second quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock valued at $387,000 after buying an additional 2,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of ARRIS International by 2.8% in the second quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock valued at $3,391,000 after buying an additional 3,289 shares in the last quarter. Amalgamated Bank grew its stake in ARRIS International by 18.3% during the 2nd quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock worth $995,000 after purchasing an additional 5,488 shares in the last quarter. Finally, Aperio Group LLC grew its stake in ARRIS International by 33.7% during the 2nd quarter. Aperio Group LLC now owns 25,776 shares of the communications equipment provider’s stock worth $722,000 after purchasing an additional 6,492 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on ARRS shares. BidaskClub cut ARRIS International from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine cut ARRIS International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Northland Securities set a $25.00 target price on ARRIS International and gave the stock a “hold” rating in a research note on Monday, October 16th. Raymond James Financial set a $38.00 target price on ARRIS International and gave the stock a “buy” rating in a research note on Monday, December 4th. Finally, Jefferies Group set a $38.00 target price on ARRIS International and gave the stock a “buy” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $33.89.

In other news, SVP Patrick W. Macken sold 1,250 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $29.26, for a total transaction of $36,575.00. Following the completion of the transaction, the senior vice president now directly owns 4,556 shares of the company’s stock, valued at approximately $133,308.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lawrence Robinson sold 4,167 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $30.00, for a total value of $125,010.00. Following the transaction, the insider now directly owns 71,721 shares of the company’s stock, valued at $2,151,630. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

ARRIS International plc (NASDAQ ARRS) opened at $29.31 on Monday. ARRIS International plc has a one year low of $24.75 and a one year high of $31.52. The company has a market capitalization of $5,481.59, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.26 and a beta of 1.39. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.65.

ARRIS International (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. ARRIS International had a return on equity of 14.02% and a net margin of 2.51%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. analysts anticipate that ARRIS International plc will post 2.33 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by Week Herald and is owned by of Week Herald. If you are accessing this report on another site, it was stolen and republished in violation of United States & international copyright & trademark law. The original version of this report can be viewed at https://weekherald.com/2017/12/11/cornerstone-capital-management-holdings-llc-acquires-shares-of-598226-arris-international-plc-arrs.html.

About ARRIS International

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.

Institutional Ownership by Quarter for ARRIS International (NASDAQ:ARRS)

Receive News & Ratings for ARRIS International plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International plc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply