Comcast Co. (NASDAQ:CMCSA) Sees Significant Growth in Short Interest

Comcast Co. (NASDAQ:CMCSA) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 57,790,000 shares, an increase of 13.6% from the September 30th total of 50,870,000 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 17,400,000 shares, the days-to-cover ratio is currently 3.3 days.

Comcast Stock Up 0.4 %

Comcast stock traded up $0.17 during midday trading on Wednesday, hitting $42.24. 27,522,865 shares of the stock were exchanged, compared to its average volume of 19,581,463. Comcast has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $40.59 and its 200-day moving average price is $39.50. The stock has a market capitalization of $165.73 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several recent research reports. Scotiabank increased their price target on Comcast from $47.25 to $47.75 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. Pivotal Research reduced their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI lowered their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.58.

Hedge Funds Weigh In On Comcast

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Comcast by 18.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,063,878 shares of the cable giant’s stock worth $89,469,000 after purchasing an additional 322,450 shares during the period. Woodmont Investment Counsel LLC grew its position in shares of Comcast by 38.7% during the 1st quarter. Woodmont Investment Counsel LLC now owns 9,852 shares of the cable giant’s stock valued at $427,000 after acquiring an additional 2,750 shares during the period. Naviter Wealth LLC bought a new stake in shares of Comcast in the 1st quarter worth approximately $721,000. Lake Street Private Wealth LLC lifted its stake in Comcast by 10.4% in the first quarter. Lake Street Private Wealth LLC now owns 80,034 shares of the cable giant’s stock valued at $3,469,000 after purchasing an additional 7,518 shares during the last quarter. Finally, Arvest Investments Inc. grew its holdings in Comcast by 3.7% during the first quarter. Arvest Investments Inc. now owns 53,162 shares of the cable giant’s stock valued at $2,305,000 after purchasing an additional 1,880 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.