Brown Advisory Inc. increased its position in Arris Group Inc. (NASDAQ:ARRS) by 85.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,309 shares of the company’s stock after buying an additional 7,536 shares during the period. Brown Advisory Inc.’s holdings in Arris Group were worth $342,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. CKW Financial Group bought a new stake in shares of Arris Group during the second quarter worth $123,000. MU Investments Co. Ltd. bought a new stake in shares of Arris Group during the second quarter worth $132,000. Calvert Investment Management Inc. raised its stake in shares of Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock worth $206,000 after buying an additional 167 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Arris Group during the second quarter worth $218,000. Finally, LS Investment Advisors LLC raised its stake in shares of 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 in the last quarter. 85.06% of the stock is owned by institutional investors.
Arris Group Inc. (NASDAQ:ARRS) traded up 0.11% on Tuesday, reaching $27.93. 88,289 shares of the company’s stock traded hands. Arris Group Inc. has a 52-week low of $20.05 and a 52-week high of $32.93. The stock’s 50 day moving average is $27.88 and its 200 day moving average is $24.62. The firm’s market cap is $5.33 billion.
Arris Group (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.19. The firm earned $1.73 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. On average, equities research analysts predict that Arris Group Inc. will post $2.82 EPS for the current fiscal year.
A number of brokerages have recently weighed in on ARRS. Jefferies Group upped their price target on shares of Arris Group from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Needham & Company LLC upped their price target on shares of Arris Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Morgan Stanley assumed coverage on shares of Arris Group in a research note on Tuesday, September 20th. They set an “overweight” rating and a $34.00 target price for the company. Zacks Investment Research lowered shares of Arris Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, Royal Bank Of Canada increased their target price on shares of Arris Group from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $33.00.
In other Arris Group news, insider Bruce William Mcclelland bought 5,000 shares of Arris Group stock in a transaction dated Friday, August 26th. The shares were bought at an average price of $27.15 per share, with a total value of $135,750.00. Following the purchase, the insider now owns 174,288 shares of the company’s stock, valued at $4,731,919.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ronald Coppock sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $28.50, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now directly owns 24,750 shares in the company, valued at approximately $705,375. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
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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