Penn Capital Management Co. Inc. increased its holdings in Commscope Holding Company Inc (NASDAQ:COMM) by 88.0% in the fourth quarter, HoldingsChannel reports. The firm owned 118,709 shares of the communications equipment provider’s stock after purchasing an additional 55,559 shares during the period. Penn Capital Management Co. Inc.’s holdings in Commscope were worth $4,637,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Commscope by 29.2% in the third quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock worth $350,236,000 after purchasing an additional 2,429,290 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Commscope by 11.0% in the third quarter. Janus Henderson Group PLC now owns 3,749,954 shares of the communications equipment provider’s stock worth $124,536,000 after purchasing an additional 370,912 shares in the last quarter. State Street Corp boosted its holdings in Commscope by 87.0% in the second quarter. State Street Corp now owns 3,367,610 shares of the communications equipment provider’s stock worth $128,066,000 after purchasing an additional 1,567,172 shares in the last quarter. Makaira Partners LLC boosted its holdings in Commscope by 14.1% in the third quarter. Makaira Partners LLC now owns 2,307,447 shares of the communications equipment provider’s stock worth $76,630,000 after purchasing an additional 285,200 shares in the last quarter. Finally, Iridian Asset Management LLC CT bought a new stake in Commscope in the third quarter worth $40,215,000.
Commscope Holding Company Inc (COMM) opened at $39.02 on Monday. The company has a market cap of $7,451.73, a PE ratio of 19.41, a PEG ratio of 2.46 and a beta of 1.13. Commscope Holding Company Inc has a 52-week low of $30.95 and a 52-week high of $42.75. The company has a current ratio of 2.69, a quick ratio of 2.07 and a debt-to-equity ratio of 2.65.
Commscope (NASDAQ:COMM) last posted its earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Commscope had a net margin of 4.25% and a return on equity of 26.02%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. sell-side analysts forecast that Commscope Holding Company Inc will post 2.48 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Northland Securities reissued a “hold” rating and set a $33.00 target price on shares of Commscope in a research report on Friday. Barclays raised shares of Commscope from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $43.00 in a research report on Wednesday, February 14th. BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Longbow Research raised shares of Commscope from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Citigroup upped their price objective on shares of Commscope to $45.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.67.
In other Commscope news, Director Frank M. Drendel sold 5,284 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.01, for a total transaction of $200,844.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total transaction of $1,933,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 180,284 shares of company stock worth $6,807,245. 3.33% of the stock is currently owned by insiders.
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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.
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