Baird Financial Group Inc. Sells 12,040 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Baird Financial Group Inc. trimmed its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) by 10.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 100,970 shares of the communications equipment provider’s stock after selling 12,040 shares during the quarter. Baird Financial Group Inc.’s holdings in CommScope were worth $1,115,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. increased its position in shares of CommScope by 16.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock valued at $2,109,000 after acquiring an additional 13,824 shares during the period. Morgan Stanley grew its stake in shares of CommScope by 42.7% in the second quarter. Morgan Stanley now owns 770,166 shares of the communications equipment provider’s stock worth $16,412,000 after purchasing an additional 230,330 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in CommScope by 27.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 35,122 shares of the communications equipment provider’s stock valued at $477,000 after purchasing an additional 7,460 shares during the period. Swiss National Bank raised its position in CommScope by 1.9% during the 3rd quarter. Swiss National Bank now owns 450,900 shares of the communications equipment provider’s stock valued at $6,128,000 after purchasing an additional 8,200 shares during the last quarter. Finally, Boston Private Wealth LLC lifted its holdings in CommScope by 38.2% in the 3rd quarter. Boston Private Wealth LLC now owns 23,006 shares of the communications equipment provider’s stock worth $313,000 after buying an additional 6,364 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of COMM opened at $7.20 on Friday. The business’s 50 day moving average price is $7.18 and its 200-day moving average price is $9.11. CommScope Holding Company, Inc. has a 52 week low of $5.94 and a 52 week high of $22.18.

CommScope (NASDAQ:COMM – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that CommScope Holding Company, Inc. will post 1.39 earnings per share for the current fiscal year.

A number of brokerages recently commented on COMM. Credit Suisse Group upped their target price on CommScope from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, February 18th. StockNews.com started coverage on shares of CommScope in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Citigroup cut their target price on shares of CommScope from $8.50 to $6.00 in a research note on Friday, May 6th. Morgan Stanley lowered their price objective on shares of CommScope from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, April 12th. Finally, The Goldman Sachs Group downgraded CommScope from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $9.00 in a report on Friday, April 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.40.

In other CommScope news, SVP Farid Firouzbakht purchased 10,000 shares of the stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average cost of $6.97 per share, with a total value of $69,700.00. Following the completion of the acquisition, 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 SEC, which is available at the SEC website. Also, Director Timothy T. Yates acquired 5,000 shares of CommScope stock in a transaction that occurred on Wednesday, February 23rd. The stock was acquired at an average price of $10.06 per share, with a total value of $50,300.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 38,500 shares of company stock worth $321,200. 2.40% of the stock is currently owned by company insiders.

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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