SG Americas Securities LLC raised its holdings in Commscope Holding Company Inc (NASDAQ:COMM) by 47.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,703 shares of the communications equipment provider’s stock after acquiring an additional 2,782 shares during the period. SG Americas Securities LLC’s holdings in Commscope were worth $329,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of COMM. JPMorgan Chase & Co. grew its holdings in Commscope by 29.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock valued at $350,236,000 after buying an additional 2,429,290 shares during the period. Iridian Asset Management LLC CT purchased a new stake in Commscope in the 3rd quarter valued at about $40,215,000. Alyeska Investment Group L.P. purchased a new stake in Commscope in the 3rd quarter valued at about $27,219,000. Myriad Asset Management Ltd. purchased a new stake in Commscope in the 3rd quarter valued at about $23,247,000. Finally, Janus Henderson Group PLC grew its holdings in Commscope by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,749,954 shares of the communications equipment provider’s stock valued at $124,536,000 after buying an additional 370,912 shares during the period.
Several analysts have commented on the company. Barclays upgraded Commscope from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $42.00 to $43.00 in a report on Wednesday, February 14th. BidaskClub cut Commscope from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. ValuEngine upgraded Commscope from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Northland Securities reiterated a “hold” rating on shares of Commscope in a report on Friday, November 10th. Finally, Longbow Research upgraded Commscope from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $42.56.
Commscope (NASDAQ:COMM) last issued its earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. Commscope had a return on equity of 26.02% and a net margin of 4.25%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. research analysts expect that Commscope Holding Company Inc will post 2.45 earnings per share for the current fiscal year.
In related news, SVP Philip Martin Armstrong, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $39.02, for a total transaction of $390,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $36.45, for a total value of $1,822,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 218,859 shares of company stock worth $8,310,727 over the last three months. 3.33% of the stock is currently owned by corporate insiders.
Commscope Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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