Tenzing Global Management LLC Takes $1.85 Million Position in Comcast Corporation $CMCSA

Key Points

• Tenzing Global Management LLC has invested approximately $1.85 million in Comcast Corporation by acquiring 50,000 shares, making it the 17th largest position in their portfolio.
• Several institutional investors are increasing their stakes in Comcast, with Advisor OS LLC raising holdings by 33.2% and DAVENPORT & Co LLC increasing their shares by 41.7% in the first quarter.
• Comcast recently reported a quarterly earnings of $1.25 EPS, surpassing analyst expectations, and announced a quarterly dividend of $0.33 per share, yielding 3.9% annually.

Tenzing Global Management LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,000 shares of the cable giant's stock, valued at approximately $1,845,000. Comcast comprises about 1.3% of Tenzing Global Management LLC's portfolio, making the stock its 17th largest position.

Several other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd raised its position in shares of Comcast by 6.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 246,917 shares of the cable giant's stock worth $9,111,000 after acquiring an additional 14,098 shares in the last quarter. Sepio Capital LP lifted its position in Comcast by 18.9% during the first quarter. Sepio Capital LP now owns 46,086 shares of the cable giant's stock valued at $1,701,000 after purchasing an additional 7,318 shares in the last quarter. Silver Rock Financial LP raised its stake in Comcast by 33.7% during the 1st quarter. Silver Rock Financial LP now owns 611,500 shares of the cable giant's stock worth $22,564,000 after acquiring an additional 154,000 shares during the period. Permanens Capital L.P. boosted its holdings in Comcast by 95.4% in the 1st quarter. Permanens Capital L.P. now owns 39,131 shares of the cable giant's stock worth $1,444,000 after buying an additional 19,105 shares during the period. Finally, Petrus Trust Company LTA purchased a new stake in shares of Comcast during the first quarter worth about $372,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Down 1.0%

Shares of Comcast stock traded down $0.32 on Friday, reaching $33.08. 8,358,485 shares of the company were exchanged, compared to its average volume of 23,903,631. The stock's 50 day moving average price is $33.85 and its 200-day moving average price is $34.62. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a market cap of $122.13 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. Comcast's dividend payout ratio is presently 21.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on CMCSA. Rosenblatt Securities lifted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Barclays cut their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Rothschild & Co Redburn decreased their price target on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Citigroup restated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Finally, Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Comcast currently has a consensus rating of "Hold" and an average target price of $40.56.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.