Assenagon Asset Management SA increases its stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

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Assenagon Asset Management SA increased its equity stake in CommScope Holding Company, Inc. (NASDAQ: COMMGet a rating) by 306.2% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 696,908 shares of the communications equipment provider after acquiring an additional 525,330 shares during the period. Assenagon Asset Management SA held 0.34% of CommScope worth $5,492,000 at the end of the most recent period.

A number of other hedge funds and other institutional investors also changed their positions in COMM. Diameter Capital Partners LP acquired a new stake in CommScope during Q4, valued at approximately $41,352,000. Marshall Wace LLP increased its stake in CommScope by 1,801.7% during the 4th quarter. Marshall Wace LLP now owns 2,993,552 shares of the communications equipment supplier valued at $33,050,000 after acquiring an additional 2,836,141 shares last quarter. Fuller & Thaler Asset Management Inc. increased its stake in CommScope by 43.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,160,653 shares of the communications equipment provider valued at $79,054,000 after acquiring 2,175,706 additional shares last quarter. FPR Partners LLC increased its stake in CommScope by 12.3% in the 4th quarter. FPR Partners LLC now owns 19,473,018 shares of the communications equipment provider valued at $214,982,000 after purchasing an additional 2,140,000 shares in the last quarter. Finally, Cavalry Management Group LLC acquired a new position in CommScope in Q4, valued at approximately $14,523,000. 92.71% of the shares are held by institutional investors.

In other CommScope news, CFO Kyle David Lorentzen bought 17,887 shares of CommScope in a trade on Friday, June 3. The shares were purchased at an average cost of $8.11 per share, for a total transaction of $145,063.57. Following the acquisition, the CFO now directly owns 209,398 shares of the company, valued at $1,698,217.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. Additionally, CEO Charles L. Treadway purchased 59,927 shares of CommScope in a trade on Thursday, June 2. The shares were acquired at an average price of $8.34 per share, for a total transaction of $499,791.18. Following the completion of the acquisition, the CEO now owns 1,212,302 shares of the company, valued at $10,110,598.68. Disclosure of this purchase can be found here. During the last quarter, insiders acquired 87,814 shares of the company worth $714,555. 2.40% of the shares are held by insiders of the company.

Shares of COMM stock opened at $6.31 on Monday. The company’s 50-day moving average price is $7.03 and its 200-day moving average price is $8.12. CommScope Holding Company, Inc. has a one-year low of $5.56 and a one-year high of $21.98. The company has a market capitalization of $1.31 billion, a P/E ratio of -2.29, a P/E/G ratio of 0.17 and a beta of 1.68.

CommScope (NASDAQ: COMMGet a rating) last reported results on Thursday, May 5. The communications equipment provider reported earnings per share (EPS) of $0.20 for the quarter, beating analysts’ consensus estimate of $0.15 by $0.05. The company posted revenue of $2.23 billion for the quarter, versus analyst estimates of $2.07 billion. CommScope had a negative net margin of 5.78% and a negative return on equity of 235.45%. The company’s quarterly revenue increased 7.6% year over year. During the same period of the previous year, the company achieved EPS of $0.27. Analysts expect CommScope Holding Company, Inc. to post EPS of 1.33 for the current fiscal year.

COMM has been the subject of several recent analyst reports. Citigroup lowered its price target on CommScope shares from $8.50 to $6.00 in a Friday, May 6 report. StockNews.com launched coverage on CommScope shares in a Thursday, March 31 report. They issued a “holding” rating on the stock. Deutsche Bank Aktiengesellschaft lowered its price target on CommScope shares from $14.00 to $9.00 and set a “buy” rating on the stock in a Wednesday, April 13 report. Bank of America downgraded CommScope shares from a “neutral” to an “underperforming” rating and lowered its target price for the company from $12.00 to $8.00 in a Friday, March 25 report. . Finally, Raymond James downgraded CommScope shares from a “market performer” rating to an “underperformer” rating in a Monday, April 11 report. Two analysts gave the stock a sell rating, six gave the company a hold rating and three gave the company a buy rating. According to data from MarketBeat, CommScope has an average rating of “Hold” and a consensus price target of $9.44.

About CommScope (Get a rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Site and Campus Networks (VCN) and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products and hardened closures to the broadband market of telecommunications operators and cable companies.

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Institutional ownership by quarter for CommScope (NASDAQ:COMM)



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