SG Americas Securities LLC increases its equity position in CommScope Holding Company, Inc. (NASDAQ: COMM)

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SG Americas Securities LLC increased its stake in the shares of CommScope Holding Company, Inc. (NASDAQ: COMMGet a rating) by 79.7% in Q1, according to its latest 13F filing with the Securities & Exchange Commission. The fund held 53,751 shares of the communications equipment provider after buying another 23,840 shares during the quarter. SG Americas Securities LLC’s holdings in CommScope were worth $424,000 when it last filed with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently changed their positions in the company. FPR Partners LLC increased its stake in CommScope by 12.3% in the 4th quarter. FPR Partners LLC now owns 19,473,018 shares of the communications equipment provider worth $214,982,000 after acquiring an additional 2,140,000 shares last quarter. Fuller & Thaler Asset Management Inc. increased its stake in CommScope by 43.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,160,653 shares of the communications equipment provider worth $79,054,000 after acquiring 2,175,706 additional shares last quarter. First Trust Advisors LP increased its stake in CommScope by 6.9% in Q4. First Trust Advisors LP now owns 5,334,821 shares of the communications equipment provider worth $58,896,000 after acquiring an additional 345,382 shares last quarter. Diameter Capital Partners LP acquired a new stake in CommScope in Q4 for a value of approximately $41,352,000. Finally, Weiss Multi Strategy Advisers LLC increased its stake in CommScope by 28.2% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 3,669,669 shares of the communications equipment provider worth $40,513,000 after acquiring an additional 808,175 shares in the last quarter. Hedge funds and other institutional investors hold 92.71% of the company’s shares.

CommScope Stock Performance

NASDAQ COMM opened at $9.70 on Friday. The company has a market capitalization of $2.01 billion, a P/E ratio of -3.53, a P/E/G ratio of 0.26 and a beta of 1.87. CommScope Holding Company, Inc. has a one-year low of $5.56 and a one-year high of $16.74. The stock has a 50-day moving average price of $7.39 and a 200-day moving average price of $7.75.

CommScope (NASDAQ: COMMGet a rating) last released its results on Thursday, August 4. The communications equipment provider reported EPS of $0.41 for the quarter, beating consensus analyst estimates of $0.29 by $0.12. The company posted revenue of $2.30 billion in the quarter, versus a consensus estimate of $2.26 billion. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. The company’s quarterly revenue increased by 5.3% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.38. As a group, stock analysts predict that CommScope Holding Company, Inc. will post EPS of 1.33 for the current fiscal year.

Insider buying and selling

Separately, CEO Charles L. Treadway purchased 59,927 shares in a trade that took place on Thursday, June 2. The stock was purchased at an average cost 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 $10,110,598.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Separately, CEO Charles L. Treadway purchased 59,927 shares in a trade that took place on Thursday, June 2. The stock was purchased at an average cost 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 $10,110,598.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Also, CFO Kyle David Lorentzen bought 17,887 shares in a trade that took place on Friday, June 3. The stock was purchased at an average price of $8.11 per share, with a total value of $145,063.57. Following the completion of the transaction, 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 87,814 shares of the company worth $714,555 over the past three months. 2.40% of the shares are held by insiders.

Wall Street analysts predict growth

COMM has been the subject of several analyst reports. Raymond James downgraded CommScope shares from a “market performer” rating to an “underperformer” rating in a Monday, April 11 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 report on Friday. 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 report. Morgan Stanley downgraded CommScope shares from an “overweight” rating to an “equal weight” rating and raised its price target for the company from $9.00 to $11.00 in a report released Friday. Finally, Citigroup raised its price target on CommScope shares from $6.00 to $7.00 and gave the company a “sell” rating in a report on Friday. Three equity research analysts gave the stock a sell rating, seven gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.67.

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.

See also

Institutional ownership by quarter for CommScope (NASDAQ:COMM)



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