Profund Advisors LLC sells 5,217 shares of CommScope Holding Company, Inc. (NASDAQ: COMM)

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Profund Advisors LLC reduced its stake in CommScope Holding Company, Inc. (NASDAQ: COMMGet a rating) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 92,793 shares of the communications equipment provider after selling 5,217 shares during the period. Profund Advisors LLC’s holdings in CommScope were worth $731,000 when it last filed with the Securities and Exchange Commission.

A number of other hedge funds have also increased or reduced their holdings in COMM. Allspring Global Investments Holdings LLC bought a new position in CommScope in the fourth quarter worth $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 valued at $280,000 after acquiring 5,612 additional 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 valued at $580,000 after acquiring an additional 17,467 shares in the last quarter. 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 valued at $20,587,000 after acquiring an additional 686,862 shares last quarter. Finally, First Trust Advisors LP increased its stake in CommScope by 6.9% in the fourth quarter. First Trust Advisors LP now owns 5,334,821 shares of the communications equipment provider valued at $58,896,000 after acquiring an additional 345,382 shares in the last quarter. Institutional investors hold 92.71% of the company’s shares.

Wall Street analysts predict growth

A number of brokerages have commented on COMM. Evercore ISI cut its price target on CommScope shares from $8.00 to $7.00 and set an “in-line” rating for the company in a Tuesday, June 28 research note. 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 research note. Morgan Stanley cut CommScope shares from an “overweight” rating to an “equal weight” rating and raised its target price for the stock from $9.00 to $11.00 in a Friday research note 5 August. Citigroup raised its price target on CommScope shares from $6.00 to $7.00 and gave the stock a “sell” rating in a Friday, Aug. 5 research note. Finally, JPMorgan Chase & Co. cut its price target on CommScope shares from $9.00 to $7.00 and set a “neutral” rating for the company in a Thursday, July 14 research note. Three research analysts rated the stock with a sell rating, seven gave the company’s stock a hold rating and two issued a buy rating. According to MarketBeat.com, CommScope has a consensus rating of “Hold” and an average price target of $9.67.

CommScope is trading down 2.5%

Shares of CommScope Stock opened at $10.74 on Monday. CommScope Holding Company, Inc. has a 12-month low of $5.56 and a 12-month high of $16.19. The company has a 50-day simple moving average of $7.85 and a two-hundred-day simple moving average of $7.80.

CommScope (NASDAQ: COMMGet a rating) last released its quarterly earnings data on Thursday, August 4. The communications equipment provider reported earnings per share of $0.36 for the quarter, beating the 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 in the quarter, compared to $2.26 billion expected by analysts. During the same quarter of the previous year, the company achieved EPS of $0.38. The company’s revenue increased 5.3% year over year. Analysts expect CommScope Holding Company, Inc. to post EPS of 1.48 for the current fiscal year.

Insider Buying and Selling at CommScope

In other news, Director Claudius E. IV Watts bought 5,000 shares of the company in a trade on Thursday, August 11. The shares were purchased at an average cost of $10.07 per share, with a total value of $50,350.00. Following the acquisition, the administrator now directly owns 559,030 shares of the company, valued at $5,629,432.10. The purchase was disclosed in an SEC filing, which is available via this hyperlink. Separately, director Claudius E. Iv Watts purchased 5,000 shares of the company in a trade on Thursday, August 11. The shares were purchased at an average cost of $10.07 per share, with a total value of $50,350.00. Following the acquisition, the administrator now directly owns 559,030 shares of the company, valued at $5,629,432.10. The purchase was disclosed in an SEC filing, which is available via this hyperlink. Also, CFO Kyle David Lorentzen bought 17,887 shares of the company 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 completion of the acquisition, the CFO now owns 209,398 shares of the company, valued at $1,698,217.78. Disclosure of this purchase can be found here. Insiders purchased a total of 92,814 shares of the company valued at $789,705 over the past ninety days. 2.40% of the shares are currently held by insiders of the company.

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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Institutional ownership by quarter for CommScope (NASDAQ:COMM)



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