Dynamic Capital Management Ltd acquired a new stake in ARRIS International plc (NASDAQ:ARRS) during the first quarter, HoldingsChannel.com reports. The fund acquired 22,574 shares of the communications equipment provider’s stock, valued at approximately $714,000. ARRIS International comprises about 2.6% of Dynamic Capital Management Ltd’s holdings, making the stock its 13th biggest holding.
Other large investors have also recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of ARRIS International by 80.0% during the first quarter. CWM LLC now owns 900 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 400 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of ARRIS International during the first quarter worth $29,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of ARRIS International by 2,886.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,062,741 shares of the communications equipment provider’s stock worth $67,000 after purchasing an additional 1,993,677 shares during the period. Acadian Asset Management LLC acquired a new position in shares of ARRIS International during the first quarter worth $75,000. Finally, grace capital lifted its holdings in shares of ARRIS International by 37.5% during the fourth quarter. grace capital now owns 5,500 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 1,500 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded shares of ARRIS International from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. ARRIS International currently has a consensus rating of “Hold” and an average target price of $29.87.
Shares of NASDAQ:ARRS opened at $31.66 on Thursday. The firm has a market cap of $5.56 billion, a PE ratio of 12.51 and a beta of 0.92. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.68. ARRIS International plc has a 52 week low of $21.55 and a 52 week high of $31.74.
In other news, CFO David Potts sold 15,523 shares of ARRIS International stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $31.65, for a total transaction of $491,302.95. Following the transaction, the chief financial officer now owns 111,842 shares in the company, valued at $3,539,799.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
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ARRIS International Profile
ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. The company's Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.
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