ARRIS Group Inc. (NASDAQ:ARRS) was the target of some unusual options trading activity on Tuesday. Investors bought 1,727 call options on the company. This is an increase of approximately 777% compared to the typical volume of 197 call options.
Shares of NASDAQ:ARRS traded up $0.25 during trading on Thursday, reaching $27.39. The stock had a trading volume of 820,305 shares, compared to its average volume of 1,543,351. The firm has a market cap of $5,031.08, a P/E ratio of 11.27, a P/E/G ratio of 1.07 and a beta of 1.19. ARRIS Group has a 52 week low of $22.60 and a 52 week high of $30.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.51.
ARRIS Group (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.12. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. ARRIS Group had a net margin of 1.41% and a return on equity of 14.69%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. sell-side analysts anticipate that ARRIS Group will post 2.54 earnings per share for the current year.
ARRIS Group announced that its Board of Directors has approved a stock buyback plan on Thursday, March 22nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the communications equipment provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Bruce William Mcclelland purchased 2,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of $25.91 per share, with a total value of $51,820.00. Following the completion of the purchase, the chief executive officer now directly owns 216,158 shares of the company’s stock, valued at $5,600,653.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Potts sold 4,191 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $26.50, for a total transaction of $111,061.50. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 9,500 shares of company stock valued at $241,440 and have sold 9,914 shares valued at $261,576. 0.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Capital Fund Management S.A. increased its holdings in ARRIS Group by 25.5% during the fourth quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock worth $316,000 after buying an additional 2,500 shares during the last quarter. FNY Partners Fund LP bought a new position in ARRIS Group during the fourth quarter worth about $100,000. American International Group Inc. boosted its position in ARRIS Group by 1.2% during the fourth quarter. American International Group Inc. now owns 365,302 shares of the communications equipment provider’s stock worth $9,385,000 after purchasing an additional 4,190 shares during the period. UBS Asset Management Americas Inc. boosted its position in ARRIS Group by 3.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 150,457 shares of the communications equipment provider’s stock worth $3,865,000 after purchasing an additional 4,375 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in ARRIS Group by 27.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 21,163 shares of the communications equipment provider’s stock worth $544,000 after purchasing an additional 4,572 shares during the period. Institutional investors own 88.54% of the company’s stock.
A number of equities research analysts recently commented on the stock. Barclays restated an “equal weight” rating and set a $31.00 price objective on shares of ARRIS Group in a report on Thursday, March 22nd. BidaskClub upgraded shares of ARRIS Group from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Raymond James Financial set a $36.00 price target on shares of ARRIS Group and gave the company a “buy” rating in a research note on Thursday, December 14th. ValuEngine downgraded shares of ARRIS Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research downgraded shares of ARRIS Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.22.
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ARRIS Group Company Profile
ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments, Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.
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