Bailard Inc. invests $424,000 in CommScope Holding Company, Inc. (NASDAQ: COMM)

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Bailard Inc. acquired a new equity position in CommScope Holding Company, Inc. (NASDAQ: COMMGet a rating) during the first quarter, according to its latest filing with the Securities & Exchange Commission. The institutional investor purchased 53,800 shares of the communications equipment provider, valued at approximately $424,000.

Several other hedge funds also changed their COMM holdings. Ensign Peak Advisors Inc increased its position in CommScope shares by 63.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment provider valued at $333,000 after acquiring an additional 11,715 shares during the period. New Jersey State Joint Pension Fund D increased its position in CommScope shares by 64.3% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 290,147 shares of the communications equipment provider worth $3,203,000 after acquiring an additional 113,565 shares during the period. Virginia Retirement Systems ET AL increased its position in CommScope shares by 37.9% in the fourth quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider valued at $221,000 after acquiring an additional 5,500 shares during the period. Charles Schwab Investment Management Inc. increased its position in CommScope shares by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider valued at $23,981,000 after acquiring an additional 69,527 shares during the period. Finally, Renaissance Technologies LLC increased its position in CommScope shares by 35.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider valued at $17,697,000 after acquiring an additional 420,354 shares during the period. 92.71% of the shares are currently held by institutional investors and hedge funds.

Several equity analysts have recently released reports on COMM shares. Citigroup reduced its target price on CommScope from $8.50 to $6.00 in a Friday, May 6 research report. StockNews.com began covering CommScope in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Morgan Stanley cut its price target on CommScope from $14.00 to $9.00 and set an “overweight” rating on the stock in a Tuesday, April 12 research report. Bank of America downgraded CommScope from a “neutral” rating to an “underperforming” rating and cut its price target for the stock from $12.00 to $8.00 in a Friday 25 research report march. Finally, Goldman Sachs Group downgraded CommScope from a “buy” rating to a “neutral” rating and cut its price target for the stock from $18.00 to $9.00 in a Friday research report. April 1st. Two equity research analysts gave the stock a sell rating, six gave the company a hold rating and three gave the company a buy rating. According to MarketBeat, CommScope currently has an average rating of “Hold” and an average target price of $9.44.

In related news, CEO Charles L. Treadway purchased 59,927 shares of the company in a transaction that took place on Thursday, June 2. The shares were purchased at an average cost of $8.34 per share, with a total value of $499,791.18. As a result of the purchase, the CEO now owns 1,212,302 shares of the company, valued at approximately $10,110,598.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, CFO Kyle David Lorentzen bought 17,887 shares of the company in a transaction that took place on Friday, June 3. The stock was purchased at an average cost of $8.11 per share, for a total transaction of $145,063.57. Following the completion of the purchase, the CFO now directly owns 209,398 shares of the company, valued at approximately $1,698,217.78. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 87,814 shares of the company worth $714,555. Company insiders hold 2.40% of the company’s shares.

COMM stock opened at $6.31 on Monday. The company’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $8.12. CommScope Holding Company, Inc. has a 52-week low of $5.56 and a 52-week high of $21.98.

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 the consensus estimate of $0.15 by $0.05. CommScope had a negative net margin of 5.78% and a negative return on equity of 235.45%. The company posted revenue of $2.23 billion for the quarter, versus analyst estimates of $2.07 billion. During the same period of the previous year, the company posted EPS of $0.27. The company’s revenue for the quarter increased 7.6% on an annual basis. Sell-side analysts expect CommScope Holding Company, Inc. to post 1.33 earnings per share for the current fiscal year.

CommScope Profile (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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