IFM Investors Pty Ltd Takes Position in Commscope Holding Company Inc (COMM)

IFM Investors Pty Ltd acquired a new stake in Commscope Holding Company Inc (NASDAQ:COMM) in the 3rd quarter, Holdings Channel reports. The fund acquired 6,793 shares of the communications equipment provider’s stock, valued at approximately $209,000.

Other hedge funds also recently modified their holdings of the company. Olstein Capital Management L.P. lifted its holdings in shares of Commscope by 97.3% in the 2nd quarter. Olstein Capital Management L.P. now owns 268,300 shares of the communications equipment provider’s stock valued at $7,836,000 after buying an additional 132,300 shares during the period. First Republic Investment Management Inc. lifted its holdings in shares of Commscope by 9.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 192,426 shares of the communications equipment provider’s stock valued at $5,620,000 after buying an additional 16,231 shares during the period. Bank of America Corp DE lifted its holdings in shares of Commscope by 24.2% in the 2nd quarter. Bank of America Corp DE now owns 613,362 shares of the communications equipment provider’s stock valued at $17,914,000 after buying an additional 119,617 shares during the period. BB&T Securities LLC increased its stake in shares of Commscope by 80.5% in the 2nd quarter. BB&T Securities LLC now owns 34,515 shares of the communications equipment provider’s stock valued at $1,008,000 after purchasing an additional 15,388 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Commscope by 16.6% in the 2nd quarter. Swiss National Bank now owns 717,800 shares of the communications equipment provider’s stock valued at $20,963,000 after purchasing an additional 102,000 shares in the last quarter.

Shares of Commscope stock opened at $24.64 on Friday. Commscope Holding Company Inc has a twelve month low of $23.14 and a twelve month high of $41.60. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $4.62 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $0.60 EPS. Commscope’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts forecast that Commscope Holding Company Inc will post 2.23 earnings per share for the current fiscal year.

COMM has been the subject of several recent analyst reports. BidaskClub upgraded Commscope from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 26th. Cross Research upgraded Commscope from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Goldman Sachs Group lowered Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research note on Tuesday, October 9th. ValuEngine lowered Commscope from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Nomura lowered Commscope from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $31.00 in a research note on Friday, October 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Commscope currently has an average rating of “Hold” and a consensus target price of $34.88.

Commscope Company 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.

See Also: Ex-Dividend

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commscope Holding Company Inc (NASDAQ:COMM).

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply