Comcast (NASDAQ:CMCSA) Shares Gap Up – Here’s Why

Comcast Co. (NASDAQ:CMCSA)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $42.24, but opened at $45.21. Comcast shares last traded at $43.75, with a volume of 4,790,316 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMCSA shares. Scotiabank boosted their price target on Comcast from $47.25 to $47.75 and gave the company a “sector perform” rating in a report on Friday, October 18th. KeyCorp decreased their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. Macquarie reissued a “neutral” rating and issued a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. Finally, Barclays decreased their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.58.

Comcast Stock Performance

The firm’s 50-day moving average price is $40.64 and its two-hundred day moving average price is $39.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $170.83 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.10 and a beta of 1.01.

Institutional Trading of Comcast

Several institutional investors and hedge funds have recently bought and sold shares of CMCSA. Ontario Teachers Pension Plan Board raised its holdings in Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after buying an additional 10,809,231 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after buying an additional 8,243,302 shares during the period. Capital World Investors raised its holdings in Comcast by 7.4% in the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after buying an additional 7,929,963 shares during the period. Canada Pension Plan Investment Board increased its stake in Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after purchasing an additional 4,714,586 shares during the period. Finally, AQR Capital Management LLC increased its stake in Comcast by 92.1% during the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after purchasing an additional 4,182,525 shares during the period. 84.32% of the stock is currently owned by hedge funds and other 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.