CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) CFO Kyle David Lorentzen bought 17,887 shares of the company in a trade on Friday, June 3. The shares were acquired at an average cost of $8.11 per share, for a total transaction of $145,063.57. Following completion of the transaction, the CFO now directly owns 209,398 shares of the company, valued at $1,698,217.78. The purchase was disclosed in an SEC filing, which is available via this link.
Shares of COMM stock traded down $0.12 during Tuesday trading hours, hitting $8.41. The company had a trading volume of 2,912,980 shares, compared to an average volume of 4,343,872. CommScope Holding Company, Inc. has a one-year low of $5.94 and a one-year high of 22 $.18. The company has a market capitalization of $1.74 billion, a PE ratio of -3.07, a growth price-earnings ratio of 0.20 and a beta of 1.67. The company has a fifty-day moving average price of $6.99 and a 200-day moving average price of $8.76.
CommScope (NASDAQ: COMM – Get a rating) last released its quarterly earnings data on Thursday, May 5. The communications equipment provider reported EPS of $0.26 for the quarter, beating analyst consensus estimates of $0.15 by $0.11. CommScope had a negative net margin of 5.78% and a negative return on equity of 235.45%. The company posted revenue of $2.23 billion for the quarter, versus $2.07 billion expected by analysts. In the same quarter last year, the company achieved EPS of $0.27. The company’s revenue increased 7.6% year over year. As a group, research analysts expect CommScope Holding Company, Inc. to post 1.39 earnings per share for the current fiscal year.
A number of stock analysts have weighed in on COMM shares recently. Citigroup lowered its target price on CommScope shares from $8.50 to $6.00 in a Friday, May 6 research note. Deutsche Bank Aktiengesellschaft cut its price target on CommScope shares from $14.00 to $9.00 and set a “buy” rating for the company in a Wednesday, April 13 research note. Goldman Sachs Group downgraded CommScope shares from a ‘buy’ rating to a ‘neutral’ rating and cut its price target for the company from $18.00 to $9.00 in a Friday research report April 1st. StockNews.com launched coverage on CommScope shares in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Finally, Credit Suisse Group raised its price target on CommScope shares from $10.00 to $11.00 and gave the stock a “neutral” rating in a Friday, Feb. 18 research note. Two analysts gave the stock a sell rating, seven gave the company a hold rating and three gave the company a buy rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.40.
Hedge funds have recently changed their positions in the business. Arizona State Retirement System increased its position in CommScope by 1.8% during the third quarter. Arizona State Retirement System now owns 55,589 shares of the communications equipment provider worth $755,000 after purchasing an additional 997 shares during the period. First Republic Investment Management Inc. increased its stake in CommScope shares by 2.0% during the 4th quarter. First Republic Investment Management Inc. now owns 55,999 shares of the communications equipment provider worth $618,000 after acquiring an additional 1,122 shares during the period. National Bank of Canada FI increased its holdings of CommScope shares by 25.9% during the 1st quarter. National Bank of Canada FI now owns 7,082 shares of the communications equipment provider worth $56,000 after buying an additional 1,455 shares last quarter. Teacher Retirement System of Texas increased its position in CommScope shares by 4.8% in the first quarter. Teacher Retirement System of Texas now owns 41,891 shares of the communications equipment provider worth $330,000 after acquiring 1,901 additional shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stock position in CommScope during Q4 for a value of approximately $28,000. 92.71% of the shares are currently held by hedge funds and other institutional investors.
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.
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