CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) CEO Charles L. Treadway bought 48,076 shares of the company in a trade on Friday, August 26. The shares were acquired at an average cost of $10.41 per share, for a total transaction of $500,471.16. Following completion of the transaction, the CEO now directly owns 1,260,378 shares of the company, valued at $13,120,534.98. The purchase was disclosed in an SEC filing, which is available via this link.
CommScope Stock Performance
COMM was down $0.03 on Monday, hitting $10.28. The company had a trading volume of 1,613,701 shares, compared to an average volume of 4,100,762. CommScope Holding Company, Inc. has a fifty-two week low of $5.56 and a fifty-two week high from $16.19. The stock has a market capitalization of $2.14 billion, a P/E ratio of -4.49, a P/E/G ratio of 0.29 and a beta of 1.87. The company’s fifty-day moving average is $8.19 and its 200-day moving average is $7.84.
CommScope (NASDAQ:COMM – Get a rating) last announced its results on Thursday, August 4. The communications equipment provider reported earnings per share (EPS) of $0.36 for the quarter, beating analysts’ consensus estimate of $0.27 by $0.09. CommScope had a negative net margin of 4.65% and a negative return on equity of 105.05%. The company posted revenue of $2.30 billion for the quarter, versus analyst estimates of $2.26 billion. In the same quarter a year earlier, the company posted EPS of $0.38. The company’s revenues increased by 5.3% compared to the same quarter last year. On average, sell-side analysts expect CommScope Holding Company, Inc. to post 1.48 EPS for the current year.
Institutional entries and exits
Institutional investors and hedge funds have recently changed their positions in the company. Ensign Peak Advisors Inc increased its position in CommScope shares by 63.5% during the 4th quarter. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment supplier worth $333,000 after buying an additional 11,715 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in CommScope shares by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider worth $23,981,000 after acquiring an additional 69,527 shares during the period. Renaissance Technologies LLC increased its equity stake in CommScope by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider worth $17,697,000 after acquiring an additional 420,354 shares during the period. Cinctive Capital Management LP purchased a new equity stake in CommScope during Q4 for a value of approximately $10,826,000. Finally, Fuller & Thaler Asset Management Inc. increased its stake in CommScope shares by 43.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,160,653 shares of the communications equipment provider worth $79,054,000 after acquiring an additional 2,175,706 shares during the period. Institutional investors and hedge funds hold 92.71% of the company’s shares.
Changes to analyst ratings
Several equity research analysts commented on the stock. JPMorgan Chase & Co. cut its price target on CommScope shares from $9.00 to $7.00 and set a “neutral” rating on the stock in a Thursday, July 14 research report. Deutsche Bank Aktiengesellschaft raised its price target on CommScope shares from $9.00 to $12.00 and gave the company a “buy” rating in a Friday, Aug. 5 report. Citigroup raised its price target on CommScope shares from $6.00 to $7.00 and gave the company a “sell” rating in a Friday, Aug. 5 report. Morgan Stanley cut CommScope shares from an “overweight” rating to an “equally weighted” rating and raised its target price for the company from $9.00 to $11.00 in a Friday, Aug. 5 report. Finally, Evercore ISI lowered its price target on CommScope shares from $8.00 to $7.00 and set an “in-line” rating on the stock in a Tuesday, June 28 report. Three equity research analysts gave the stock a sell rating, seven issued a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.67.
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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