Comcast Co. (CMCSA) Sees Large Growth in Short Interest

Comcast Co. (NASDAQ:CMCSA) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 66,573,952 shares, a growth of 7.2% from the October 15th total of 62,119,986 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 28,865,432 shares, the days-to-cover ratio is presently 2.3 days.

Several equities research analysts have commented on CMCSA shares. TD Securities cut their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, September 25th. Pivotal Research restated a “buy” rating on shares of Comcast in a research note on Friday, August 10th. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Citigroup started coverage on Comcast in a research note on Wednesday, October 24th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, MED started coverage on Comcast in a research note on Wednesday, October 24th. They issued a “buy” rating and a $43.00 target price on the stock. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $44.57.

Shares of Comcast stock opened at $38.34 on Friday. Comcast has a 12-month low of $30.43 and a 12-month high of $44.00. The company has a market cap of $175.24 billion, a PE ratio of 18.61, a P/E/G ratio of 1.19 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 25th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Comcast had a return on equity of 15.79% and a net margin of 27.33%. The company had revenue of $22.14 billion for the quarter, compared to analysts’ expectations of $21.75 billion. As a group, equities analysts expect that Comcast will post 2.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Monday, December 31st. Comcast’s dividend payout ratio is currently 36.89%.

In related news, EVP Arthur R. Block sold 6,448 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the completion of the transaction, the executive vice president now directly owns 74,644 shares in the company, valued at approximately $2,648,369.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 1,082 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the transaction, the executive vice president now owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in Comcast by 9.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock valued at $4,864,907,000 after acquiring an additional 12,823,994 shares during the period. FMR LLC raised its stake in Comcast by 10.2% in the 3rd quarter. FMR LLC now owns 123,314,475 shares of the cable giant’s stock valued at $4,366,565,000 after acquiring an additional 11,459,543 shares during the period. Bank of Montreal Can raised its stake in Comcast by 43.9% in the 3rd quarter. Bank of Montreal Can now owns 22,597,172 shares of the cable giant’s stock valued at $800,167,000 after acquiring an additional 6,893,674 shares during the period. Alliancebernstein L.P. raised its stake in Comcast by 17.6% in the 3rd quarter. Alliancebernstein L.P. now owns 36,684,340 shares of the cable giant’s stock valued at $1,298,992,000 after acquiring an additional 5,499,850 shares during the period. Finally, Natixis bought a new stake in Comcast in the 2nd quarter valued at $147,520,000. Institutional investors own 80.39% of the company’s stock.

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Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.

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