Bruce William Mcclelland Buys 1,500 Shares of ARRIS International plc (ARRS) Stock
ARRIS International plc (NASDAQ:ARRS) CEO Bruce William Mcclelland bought 1,500 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $24.08 per share, for a total transaction of $36,120.00. Following the completion of the acquisition, the chief executive officer now owns 242,256 shares of the company’s stock, valued at $5,833,524.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Bruce William Mcclelland also recently made the following trade(s):
- On Friday, August 3rd, Bruce William Mcclelland bought 1,500 shares of ARRIS International stock. The shares were purchased at an average cost of $23.81 per share, for a total transaction of $35,715.00.
Shares of NASDAQ:ARRS traded up $0.09 during midday trading on Friday, reaching $24.34. The company had a trading volume of 28,111 shares, compared to its average volume of 1,471,128. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.67. ARRIS International plc has a 1-year low of $22.33 and a 1-year high of $30.00. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.19.
Several large investors have recently added to or reduced their stakes in ARRS. Wells Fargo & Company MN boosted its position in shares of ARRIS International by 2.0% in the 1st quarter. Wells Fargo & Company MN now owns 3,285,071 shares of the communications equipment provider’s stock valued at $87,283,000 after purchasing an additional 65,509 shares during the period. Parametrica Management Ltd acquired a new position in shares of ARRIS International in the 1st quarter valued at $227,000. Virginia Retirement Systems ET AL boosted its position in shares of ARRIS International by 7.6% in the 1st quarter. Virginia Retirement Systems ET AL now owns 98,000 shares of the communications equipment provider’s stock valued at $2,604,000 after purchasing an additional 6,900 shares during the period. Balter Liquid Alternatives LLC boosted its position in shares of ARRIS International by 103.5% in the 1st quarter. Balter Liquid Alternatives LLC now owns 31,181 shares of the communications equipment provider’s stock valued at $828,000 after purchasing an additional 15,861 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of ARRIS International by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 207,456 shares of the communications equipment provider’s stock valued at $5,512,000 after purchasing an additional 2,110 shares during the period. Institutional investors and hedge funds own 85.50% of the company’s stock.
A number of research analysts recently issued reports on the company. ValuEngine raised ARRIS International from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 10th. Northland Securities reaffirmed a “hold” rating and set a $23.00 target price on shares of ARRIS International in a report on Thursday, August 2nd. Goldman Sachs Group lowered ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 target price on the stock. in a report on Wednesday, June 20th. Wells Fargo & Co assumed coverage on ARRIS International in a report on Thursday, July 12th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, BidaskClub lowered ARRIS International from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $31.33.
ARRIS International 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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