Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) acquired by the New York State Common Retirement Fund

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New York State Common Retirement Fund increased its position in CommScope Holding Company, Inc. (NASDAQ:COMMGet a rating) by 53.3% in the 1st quarter, according to its most recent communication to the Securities and Exchange Commission. The company held 273,226 shares of the communications equipment provider after acquiring an additional 94,992 shares during the quarter. The New York State Common Retirement Fund held approximately 0.13% of CommScope worth $2,153,000 at the end of the most recent reporting period.

Several other large investors also changed their stakes in COMM. FPR Partners LLC increased its stake in CommScope shares by 12.3% during the fourth quarter. FPR Partners LLC now owns 19,473,018 shares of the communications equipment provider worth $214,982,000 after purchasing an additional 2,140,000 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in CommScope shares by 43.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,160,653 shares of the communications equipment provider worth $79,054,000 after purchasing an additional 2,175,706 shares in the last quarter. First Trust Advisors LP increased its stake in CommScope shares by 6.9% during the fourth quarter. First Trust Advisors LP now owns 5,334,821 shares of the communications equipment provider worth $58,896,000 after buying an additional 345,382 shares in the last quarter. Diameter Capital Partners LP purchased a new equity stake in CommScope during the fourth quarter valued at approximately $41,352,000. Finally, Weiss Multi Strategy Advisers LLC increased its position in CommScope by 28.2% in the fourth 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. 92.71% of the shares are held by institutional investors and hedge funds.

Wall Street analysts predict growth

Several research analysts have published reports on COMM stocks. Citigroup raised its price target on CommScope from $6.00 to $7.00 and gave the stock a “sell” rating in a Friday, Aug. 5 research report. Morgan Stanley downgraded CommScope from an “overweight” rating to an “equal weight” rating and raised its price target for the stock from $9.00 to $11.00 in a Friday, Aug. 5 research report . Evercore ISI cut its price target on CommScope from $8.00 to $7.00 and set an “in-line” rating for the company in a Tuesday, June 28 research report. JPMorgan Chase & Co. cut its price target on CommScope from $9.00 to $7.00 and set a “neutral” rating for the company in a Thursday, July 14 research report. Finally, Deutsche Bank Aktiengesellschaft raised its price target on CommScope from $9.00 to $12.00 and gave the stock a “buy” rating in a Friday, August 5 research report. Three investment 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, the stock has an average rating of “Hold” and an average price target of $9.67.

CommScope stock up 6.9%

COMMUNICATION opened at $10.73 on Monday. The company has a market capitalization of $2.23 billion, a P/E ratio of -4.69, a PEG ratio of 0.31 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. The company’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $7.76.

CommScope (NASDAQ:COMMGet a rating) last released its quarterly earnings data 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 for the quarter, versus analyst estimates of $2.26 billion. CommScope had a negative return on equity of 105.05% and a negative net margin of 4.65%. The company’s revenue for the quarter increased by 5.3% compared to the same quarter last year. In the same quarter last year, the company earned earnings per share of $0.38. As a group, stock analysts expect CommScope Holding Company, Inc. to post EPS of 1.48 for the current fiscal year.

Insiders place their bets

In other CommScope news, CEO Charles L. Treadway purchased 59,927 shares of the company in a trade Thursday, June 2. The shares were purchased at an average cost of $8.34 per share, with a total value of $499,791.18. Following the purchase, the CEO now owns 1,212,302 shares of the company, valued at $10,110,598.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In other CommScope news, CEO Charles L. Treadway purchased 59,927 shares of the company in a trade Thursday, June 2. The shares were purchased at an average cost of $8.34 per share, with a total value of $499,791.18. Following the purchase, the CEO now owns 1,212,302 shares of the company, valued at $10,110,598.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, director Claudius E. IV Watts bought 5,000 shares of the company in a trade on Thursday, August 11. The shares were acquired at an average cost of $10.07 per share, for a total transaction of $50,350.00. Following the completion of the purchase, the administrator now owns 559,030 shares of the company, valued at approximately $5,629,432.10. Disclosure of this purchase can be found here. Over the past ninety days, insiders have acquired 92,814 shares of the company valued at $789,705. Insiders hold 2.40% of the shares of the company.

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.

Further reading

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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