Clearline Capital LP Invests $8.60 Million in Comcast Corporation $CMCSA

Clearline Capital LP purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 287,751 shares of the cable giant’s stock, valued at approximately $8,601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after buying an additional 352 shares during the last quarter. Cora Capital Advisors LLC increased its position in Comcast by 3.4% during the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after purchasing an additional 362 shares in the last quarter. FSA Advisors Inc. increased its position in Comcast by 5.5% during the 3rd quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant’s stock worth $226,000 after purchasing an additional 376 shares in the last quarter. Oakworth Capital Inc. increased its position in Comcast by 7.4% during the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock worth $164,000 after purchasing an additional 377 shares in the last quarter. Finally, WPG Advisers LLC boosted its stake in Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock worth $84,000 after buying an additional 384 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $22.69 on Thursday. The firm has a market capitalization of $81.05 billion, a P/E ratio of 4.47, a P/E/G ratio of 1.93 and a beta of 0.67. Comcast Corporation has a 1-year low of $22.55 and a 1-year high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day simple moving average is $26.05 and its 200-day simple moving average is $28.26.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. Equities analysts predict that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.8%. Comcast’s payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CMCSA shares. Evercore raised their price target on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wall Street Zen raised Comcast to a “hold” rating in a research note on Saturday, March 14th. Royal Bank Of Canada raised their price target on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Finally, Morgan Stanley lifted their price objective on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.52.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.