Comcast (NASDAQ:CMCSA) Reaches New 12-Month Low – Here’s What Happened

Comcast Co. (NASDAQ:CMCSA) hit a new 52-week low on Thursday . The stock traded as low as $34.24 and last traded at $34.11, with a volume of 1252910 shares traded. The stock had previously closed at $37.36.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMCSA shares. Morgan Stanley downgraded Comcast from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $48.00 to $45.00 in a report on Monday, December 16th. Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. TD Cowen lowered their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, KeyCorp boosted their price target on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.33.

Comcast Stock Down 9.9 %

The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $39.01 and a 200-day simple moving average of $40.15. The stock has a market capitalization of $128.86 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.81% and a net margin of 11.92%. On average, sell-side analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Winch Advisory Services LLC boosted its stake in Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in shares of Comcast in the third quarter valued at approximately $30,000. McClarren Financial Advisors Inc. raised its holdings in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Comcast during the 4th quarter worth approximately $28,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Comcast by 220.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after acquiring an additional 522 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

About Comcast

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.