Charles Schwab Investment Management Inc. increased its stake in shares of CommScope Holding Company, Inc. (NASDAQ: COMM – Get Rating) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,172,135 shares of the communications equipment provider’s stock after purchasing an additional 69,527 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.06% of CommScope worth $ 23,981,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Chartwell Investment Partners LLC increased its position in CommScope by 112.7% during the 3rd quarter. Chartwell Investment Partners LLC now owns 144,949 shares of the communications equipment provider’s stock worth $ 1,970,000 after purchasing an additional 76,816 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in CommScope by 64.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 290,147 shares of the communications equipment provider’s stock valued at $ 3,203,000 after buying an additional 113,565 shares during the period. Virginia Retirement Systems ET AL grew its holdings in CommScope by 37.9% in the 4th quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider’s stock valued at $ 221,000 after buying an additional 5,500 shares during the period. Goldman Sachs Group Inc. grew its holdings in CommScope by 5.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 772,754 shares of the communications equipment provider’s stock valued at $ 10,502,000 after buying an additional 43,235 shares during the period. Finally, Clear Harbor Asset Management LLC grew its holdings in CommScope by 128.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 281,951 shares of the communications equipment provider’s stock valued at $ 3,113,000 after buying an additional 158,634 shares during the period. Hedge funds and other institutional investors own 92.71% of the company stock.
In other CommScope news, SVP Farid Firouzbakht bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were bought at an average cost of $ 6.97 per share, with a total value of $ 69,700.00. Following the transaction, the senior vice president now directly owns 149,824 shares in the company, valued at approximately $ 1,044,273.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles L. Treadway bought 59,927 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was acquired at an average cost of $ 8.34 per share, for a total transaction of $ 499,791.18. Following the completion of the transaction, the chief executive officer now owns 1,212,302 shares in the company, valued at $ 10,110,598.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,927 shares of company stock worth $ 642,771 over the last three months. 2.40% of the stock is currently owned by corporate insiders.
COMM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on CommScope from $ 14.00 to $ 9.00 and set a “buy” rating for the company in a report on Wednesday, April 13th. Citigroup lowered their price target on CommScope from $ 8.50 to $ 6.00 in a report on Friday, May 6th. Bank of America cut CommScope from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $ 12.00 to $ 8.00 in a report on Friday, March 25th. Credit Suisse Group lifted their price objective on CommScope from $ 10.00 to $ 11.00 and gave the company a “neutral” rating in a research note on Friday, February 18th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $ 10.40.
CommScope stock opened at $ 8.05 on Friday. The stock’s 50 day moving average price is $ 6.98 and its 200 day moving average price is $ 8.78. The firm has a market capitalization of $ 1.67 billion, a PE ratio of -2.93, a price-to-earnings-growth ratio of 0.21 and a beta of 1.67. CommScope Holding Company, Inc. has a one year low of $ 5.94 and a one year high of $ 22.18.
CommScope (NASDAQ: COMM – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The communications equipment provider reported $ 0.26 EPS for the quarter, topping the consensus estimate of $ 0.15 by $ 0.11. The firm had revenue of $ 2.23 billion for the quarter, compared to analyst estimates of $ 2.07 billion. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. CommScope’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $ 0.27 EPS. On average, sell-side analysts anticipate that CommScope Holding Company, Inc. will post 1.39 earnings per share for the current year.
CommScope Company Profile: (Get 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), Venue 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 telco and cable provider broadband market.
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