Insider Selling: Commscope Holding Company Inc (COMM) Director Sells 58,983 Shares of Stock

Commscope Holding Company Inc (NASDAQ:COMM) Director Frank M. Drendel sold 58,983 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $40.22, for a total value of $2,372,296.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Commscope Holding Company Inc (NASDAQ:COMM) traded down $0.72 during mid-day trading on Friday, hitting $38.94. The company had a trading volume of 962,732 shares, compared to its average volume of 1,734,388. The company has a current ratio of 2.69, a quick ratio of 2.07 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $7,748.77, a PE ratio of 20.09, a P/E/G ratio of 2.16 and a beta of 1.09. Commscope Holding Company Inc has a fifty-two week low of $30.95 and a fifty-two week high of $42.75.

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Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Commscope had a return on equity of 26.02% and a net margin of 4.25%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. equities research analysts predict that Commscope Holding Company Inc will post 2.45 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. The Manufacturers Life Insurance Company lifted its stake in Commscope by 29.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,705 shares of the communications equipment provider’s stock worth $294,000 after purchasing an additional 1,760 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Commscope by 16.1% during the third quarter. New York State Common Retirement Fund now owns 463,414 shares of the communications equipment provider’s stock worth $15,390,000 after purchasing an additional 64,414 shares during the last quarter. Toronto Dominion Bank lifted its stake in Commscope by 240.6% during the third quarter. Toronto Dominion Bank now owns 8,146 shares of the communications equipment provider’s stock worth $270,000 after purchasing an additional 5,754 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Commscope by 8.2% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,229 shares of the communications equipment provider’s stock worth $2,100,000 after purchasing an additional 4,808 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Commscope by 7.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 596,972 shares of the communications equipment provider’s stock worth $19,825,000 after purchasing an additional 40,961 shares during the last quarter.

Several research firms have recently commented on COMM. Citigroup upped their target price on Commscope to $45.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. ValuEngine raised Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub raised Commscope from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Zacks Investment Research cut Commscope from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Northland Securities reiterated a “hold” rating and issued a $33.00 price target on shares of Commscope in a research note on Friday, February 16th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Commscope presently has an average rating of “Buy” and a consensus price target of $42.78.

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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.

Insider Buying and Selling by Quarter for Commscope (NASDAQ:COMM)

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