The Panagora Asset Management Inc. Has $10,229,000 Stake in ARRIS International PLC (ARRS), Report finds

The Panagora Asset Management Inc. Has $10,229,000 Stake in ARRIS International PLC (ARRS), Report finds

Other institutional investors also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in ARRIS International PLC by 25.5% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 10,345,103 shares of the company’s stock valued at $216,833,000 after buying an additional 2,104,800 shares during the period. Stelliam Investment Management LP acquired a new stake in ARRIS International PLC during the second quarter valued at about $43,702,000. Omega Advisors Inc. acquired a new stake in ARRIS International PLC during the second quarter valued at about $37,588,000. Whale Rock Capital Management LLC acquired a new stake in ARRIS International PLC during the third quarter valued at about $47,904,000. Finally, TIAA CREF Investment Management LLC boosted its stake in ARRIS International PLC by 165.4% in the third quarter. TIAA CREF Investment Management LLC now owns 1,403,395 shares of the company’s stock valued at $39,758,000 after buying an additional 874,645 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Panagora Asset Management Inc. increased its position in ARRIS International PLC (NASDAQ:ARRS) by 29,862.7% during the third quarter, Holdings Channel reports. The fund owned 361,051 shares of the company’s stock after buying an additional 359,846 shares during the period. Panagora Asset Management Inc. owned 0.19% of ARRIS International PLC worth $10,229,000 as of its most recent filing with the SEC.

Shares of ARRIS International PLC (NASDAQ:ARRS) traded up 1.02% during mid-day trading on Thursday, reaching $28.76. The company’s stock had a trading volume of 1,419,516 shares. The firm’s market capitalization is $5.46 billion. The firm has a 50-day moving average of $29.63 and a 200-day moving average of $28.57. ARRIS International PLC has a 52 week low of $20.05 and a 52 week high of $31.52.

Several equities research analysts have issued reports on ARRS shares. RBC Capital Markets reissued an “outperform” rating and set a $35.00 target price on shares of ARRIS International PLC in a research note on Wednesday, February 1st. Zacks Investment Research cut ARRIS International PLC from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. TheStreet cut ARRIS International PLC from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Jefferies Group LLC reissued a “buy” rating and set a $34.00 target price on shares of ARRIS International PLC in a research note on Wednesday, February 1st. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $37.00 price objective on shares of ARRIS International PLC in a research note on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $33.60.

In related news, insider Robert J. Stanzione sold 30,000 shares of the stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $30.15, for a total value of $904,500.00. Following the completion of the sale, the insider now directly owns 848,856 shares in the company, valued at approximately $25,593,008.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Potts sold 8,378 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $28.92, for a total value of $242,291.76. Following the completion of the sale, the executive vice president now owns 89,258 shares of the company’s stock, valued at $2,581,341.36. The disclosure for this sale can be found here. Insiders sold a total of 88,378 shares of company stock worth $2,696,792 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

ARRIS International PLC 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.

Want to see what other hedge funds are holding ARRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARRIS International PLC (NASDAQ:ARRS).

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