National Bank of Canada FI increases its equity holding in CommScope Holding Company, Inc. (NASDAQ:COMM)

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National Bank of Canada FI increased its position in CommScope Holding Company, Inc. (NASDAQ:COMMGet a rating) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filed with the Securities & Exchange Commission. The company held 7,082 shares of the communications equipment provider after purchasing an additional 1,455 shares during the period. National Bank of Canada FI’s holdings in CommScope were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in COMM. Allspring Global Investments Holdings LLC purchased a new stake in CommScope in the fourth quarter valued at $272,000. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in CommScope by 28.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,380 shares of the communications equipment supplier worth $280,000 after acquiring 5,612 more shares last quarter. Virginia Retirement Systems ET AL increased its stake in CommScope by 37.9% in the fourth quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider worth $221,000 after acquiring an additional 5,500 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in CommScope by 49.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 52,589 shares of the communications equipment provider worth $580,000 after acquiring an additional 17,467 shares last quarter. Finally, Victory Capital Management Inc. increased its stake in CommScope by 58.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,864,748 shares of the communications equipment provider worth $20,587,000 after acquiring an additional 686,862 shares last quarter. 92.71% of the shares are held by hedge funds and other institutional investors.

Insiders place their bets

In related news, CEO Charles L. Treadway purchased 59,927 shares of CommScope in a trade Thursday, June 2. The stock was acquired at an average price of $8.34 per share, for a total transaction of $499,791.18. Following completion of the transaction, the CEO now directly owns 1,212,302 shares of the company, valued at approximately $10,110,598.68. The purchase was disclosed in an SEC filing, available at the SEC website. In other CommScope news, CEO Charles L. Treadway purchased 59,927 shares of the company in a trade that took place Thursday, June 2. The shares were purchased at an average price of $8.34 per share, for a total transaction 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 Securities & Exchange Commission, accessible via the SEC website. Also, director Claudius E. IV Watts bought 5,000 shares of the company in a transaction that took place on Thursday, August 11. The shares were acquired at an average price of $10.07 per share, with a total value of $50,350.00. As a result of the transaction, the administrator now directly owns 559,030 shares of the company, valued at approximately $5,629,432.10. Disclosure of this purchase can be found here. Insiders purchased a total of 92,814 shares of the company worth $789,705 during the last quarter. 2.40% of the shares are currently held by company insiders.

A Wall Street analyst gives his opinion

A number of brokerages have recently released reports on COMM. Citigroup raised its price target on CommScope from $6.00 to $7.00 and gave the company a “sell” rating in a Friday, Aug. 5, report. Morgan Stanley downgraded CommScope from an “overweight” rating to an “equally weighted” rating and raised its price target for the company from $9.00 to $11.00 in a Friday, Aug. 5 report. Evercore ISI lowered its price target on CommScope from $8.00 to $7.00 and set an “in-line” rating on the stock in a Tuesday, June 28 report. Deutsche Bank Aktiengesellschaft raised its price target on CommScope from $9.00 to $12.00 and gave the company a “buy” rating in a Friday, August 5 report. Finally, JPMorgan Chase & Co. lowered its price target on CommScope from $9.00 to $7.00 and set a “neutral” rating on the stock in a Thursday, July 14 report. Three research analysts gave the stock a sell rating, seven gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat.com, CommScope currently has an average rating of “Hold” and an average target price of $9.67.

CommScope stock up 6.9%

Shares of COMMUNICATION opened at $10.73 on Friday. The company has a 50-day simple moving average of $7.60 and a two-hundred-day simple moving average of $7.77. The stock has a market capitalization of $2.23 billion, a price-earnings ratio of -4.69, a PEG ratio of 0.29 and a beta of 1.87. CommScope Holding Company, Inc. has a 52-week low of $5.56 and a 52-week high of $16.19.

CommScope (NASDAQ:COMMGet a rating) last released its quarterly results on Thursday, August 4. The communications equipment provider reported EPS of $0.41 for the quarter, beating analyst consensus estimates of $0.29 by $0.12. The company posted revenue of $2.30 billion in the quarter, compared to $2.26 billion expected by analysts. CommScope had a negative return on equity of 105.05% and a negative net margin of 4.65%. The company’s quarterly revenue increased 5.3% year over year. In the same quarter a year earlier, the company posted earnings of $0.38 per share. On average, stock analysts expect CommScope Holding Company, Inc. to post 1.47 earnings per share for the current fiscal year.

About CommScope

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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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Want to see what other hedge funds hold COMMs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for CommScope Holding Company, Inc. (NASDAQ:COMMGet a rating).

Institutional ownership by quarter for CommScope (NASDAQ:COMM)



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