Arris Group Inc. (NASDAQ:ARRS) insider Ronald Coppock sold 5,000 shares of Arris Group stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $29.00, for a total value of $145,000.00. Following the completion of the sale, the insider now directly owns 19,750 shares of the company’s stock, valued at approximately $572,750. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Ronald Coppock also recently made the following trade(s):
- On Tuesday, September 6th, Ronald Coppock sold 10,000 shares of Arris Group stock. The stock was sold at an average price of $28.50, for a total value of $285,000.00.
Shares of Arris Group Inc. (NASDAQ:ARRS) traded down 1.30% on Friday, hitting $28.94. The stock had a trading volume of 372,422 shares. The firm has a 50-day moving average price of $27.67 and a 200-day moving average price of $24.33. The stock’s market capitalization is $5.52 billion. Arris Group Inc. has a 52 week low of $20.05 and a 52 week high of $32.93.
Arris Group (NASDAQ:ARRS) last posted its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. Arris Group’s revenue was up 37.3% on a year-over-year basis. Equities analysts expect that Arris Group Inc. will post $2.82 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. increased its position in Arris Group by 5,017.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,319,193 shares of the company’s stock worth $30,236,000 after buying an additional 1,293,413 shares in the last quarter. State Street Corp increased its position in Arris Group by 24.7% in the first quarter. State Street Corp now owns 4,764,920 shares of the company’s stock worth $109,212,000 after buying an additional 944,953 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in Arris Group by 3.7% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,218,280 shares of the company’s stock worth $50,843,000 after buying an additional 79,132 shares in the last quarter. BlackRock Fund Advisors increased its position in Arris Group by 18.6% in the first quarter. BlackRock Fund Advisors now owns 6,366,229 shares of the company’s stock worth $145,914,000 after buying an additional 996,393 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Arris Group by 301.3% in the first quarter. JPMorgan Chase & Co. now owns 536,977 shares of the company’s stock worth $12,308,000 after buying an additional 403,153 shares in the last quarter. 85.06% of the stock is currently owned by institutional investors.
ARRS has been the subject of several recent research reports. Zacks Investment Research lowered Arris Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Arris Group in a report on Wednesday, June 1st. Jefferies Group reaffirmed a “buy” rating and set a $31.00 target price (down previously from $40.00) on shares of Arris Group in a report on Friday, June 10th. Needham & Company LLC lifted their target price on Arris Group from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $33.00 target price (up previously from $31.00) on shares of Arris Group in a report on Thursday, July 28th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $33.00.
About Arris Group
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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