Sciencast Management LP Takes $622,000 Position in CommScope Holding Co (COMM)

Sciencast Management LP acquired a new stake in shares of CommScope Holding Co (NASDAQ:COMM) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 16,109 shares of the communications equipment provider’s stock, valued at approximately $622,000.

Several other institutional investors and hedge funds have also modified their holdings of COMM. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of CommScope by 338.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,944 shares of the communications equipment provider’s stock valued at $149,000 after purchasing an additional 3,044 shares during the last quarter. American International Group Inc. purchased a new stake in shares of CommScope during the 4th quarter valued at $161,000. Koch Industries Inc. purchased a new stake in shares of CommScope during the 4th quarter valued at $201,000. Taurus Asset Management LLC purchased a new stake in shares of CommScope during the 3rd quarter valued at $222,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of CommScope during the 4th quarter valued at $224,000.

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Several brokerages have recently commented on COMM. Citigroup reiterated a “buy” rating and set a $47.00 price objective (up previously from $45.00) on shares of CommScope in a report on Friday, March 9th. BidaskClub upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Northland Securities restated a “hold” rating and issued a $33.00 target price on shares of CommScope in a research note on Friday, February 16th. Zacks Investment Research upgraded CommScope from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, February 20th. Finally, Longbow Research upgraded CommScope from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.78.

Shares of COMM stock opened at $38.93 on Friday. The firm has a market capitalization of $7,601.01, a P/E ratio of 19.27, a PEG ratio of 2.12 and a beta of 1.05. The company has a quick ratio of 2.07, a current ratio of 2.69 and a debt-to-equity ratio of 2.65. CommScope Holding Co has a 1 year low of $30.95 and a 1 year high of $42.75.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.61 EPS. analysts forecast that CommScope Holding Co will post 2.45 EPS for the current fiscal year.

In other CommScope news, Director Stephen C. Gray sold 28,575 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.96, for a total transaction of $1,113,282.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank M. Drendel sold 58,983 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $40.22, for a total value of $2,372,296.26. The disclosure for this sale can be found here. Insiders have sold a total of 197,558 shares of company stock worth $7,810,278 over the last ninety days. 3.33% of the stock is owned by insiders.

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CommScope Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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