CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) CEO Charles L. Treadway bought 59,927 shares of the company in a trade on Thursday, June 2. The shares were acquired at an average price of $8.34 per share, with a total value of $499,791.18. Following completion of the transaction, the CEO now owns 1,212,302 shares of the company, valued at approximately $10,110,598.68. The transaction was disclosed in a legal filing with the SEC, accessible via this link.
NASDAQ COMM fell $0.29 on Friday, hitting $8.05. 2,377,144 shares of the company were traded, against an average volume of 4,348,785. The company has a market capitalization of $1.67 billion, a PE ratio of -2.93, a PEG ratio of 0.20 and a beta of 1.67. CommScope Holding Company, Inc. has a 12-month low of $5.94 and a 12-month high of $22.18. The stock has a fifty-day moving average of $6.97 and a 200-day moving average of $8.80.
CommScope (NASDAQ:COMM – Get a rating) last reported results on Thursday, May 5. The communications equipment provider reported earnings per share (EPS) of $0.26 for the quarter, beating the consensus estimate of $0.15 by $0.11. 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%. CommScope revenue increased 7.6% year over year. In the same period a year earlier, the company earned earnings per share of $0.27. As a group, research analysts expect CommScope Holding Company, Inc. to post 1.39 earnings per share for the current year.
Several research companies have recently weighed in on COMM. Bank of America downgraded CommScope shares from a ‘neutral’ to an ‘underperforming’ rating and lowered its price target for the stock from $12.00 to $8.00 in a research report Friday, March 25. StockNews.com began covering CommScope shares in a research report on Thursday, March 31. They set a “hold” rating for the company. Raymond James downgraded CommScope shares from a “market performer” rating to an “underperformer” rating in a Monday, April 11 research report. Deutsche Bank Aktiengesellschaft lowered its price target on CommScope shares from $14.00 to $9.00 and set a “buy” rating for the company in a Wednesday, April 13 research report. Finally, Credit Suisse Group raised its price target on CommScope shares from $10.00 to $11.00 and gave the stock a “neutral” rating in a Friday, Feb. 18 research report. Two equity research analysts have assigned the stock a sell rating, seven have issued a hold rating and three have assigned the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.40.
Hedge funds have recently increased or reduced their stakes in the company. Arizona State Retirement System increased its stake in CommScope by 1.8% during the third quarter. Arizona State Retirement System now owns 55,589 shares of the communications equipment provider worth $755,000 after buying 997 additional shares in the last quarter. First Republic Investment Management Inc. increased its stake in CommScope by 2.0% during the fourth quarter. First Republic Investment Management Inc. now owns 55,999 shares of the communications equipment provider worth $618,000 after buying an additional 1,122 shares last quarter. Oppenheimer Asset Management Inc. increased its stake in CommScope by 4.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 31,192 shares of the communications equipment provider worth $424,000 after buying 1,417 additional shares last quarter. National Bank of Canada FI increased its stake in CommScope by 25.9% during the first quarter. National Bank of Canada FI now owns 7,082 shares of the communications equipment provider worth $56,000 after buying an additional 1,455 shares last quarter. Finally, Teacher Retirement System of Texas increased its stake in CommScope by 4.8% in the 1st quarter. Teacher Retirement System of Texas now owns 41,891 shares of the communications equipment provider worth $330,000 after buying an additional 1,901 shares in the last quarter. Institutional investors and hedge funds hold 92.71% of the company’s shares.
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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