Oppenheimer Asset Management Inc. Cuts Position in Commscope Holding Company Inc (COMM)

Oppenheimer Asset Management Inc. trimmed its position in Commscope Holding Company Inc (NASDAQ:COMM) by 17.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 60,831 shares of the communications equipment provider’s stock after selling 12,861 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Commscope were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COMM. Principal Financial Group Inc. increased its position in shares of Commscope by 31.8% in the 1st quarter. Principal Financial Group Inc. now owns 29,987 shares of the communications equipment provider’s stock valued at $1,199,000 after acquiring an additional 7,235 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Commscope by 99.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,883 shares of the communications equipment provider’s stock valued at $315,000 after acquiring an additional 3,939 shares during the period. Guggenheim Capital LLC increased its position in shares of Commscope by 7.6% in the 1st quarter. Guggenheim Capital LLC now owns 34,883 shares of the communications equipment provider’s stock valued at $1,394,000 after acquiring an additional 2,463 shares during the period. Legal & General Group Plc increased its position in shares of Commscope by 3.2% in the 1st quarter. Legal & General Group Plc now owns 260,977 shares of the communications equipment provider’s stock valued at $10,431,000 after acquiring an additional 8,146 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Commscope by 5.3% in the 1st quarter. Royal Bank of Canada now owns 35,460 shares of the communications equipment provider’s stock valued at $1,418,000 after acquiring an additional 1,782 shares during the period.

Shares of COMM opened at $24.64 on Friday. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.32 and a beta of 1.23. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.16 and a current ratio of 2.77. Commscope Holding Company Inc has a fifty-two week low of $23.14 and a fifty-two week high of $41.60.

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

Several equities research analysts have weighed in on the company. BidaskClub downgraded Commscope from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Credit Suisse Group set a $31.00 price target on Commscope and gave the stock a “hold” rating in a research report on Wednesday, July 18th. ValuEngine raised Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Northland Securities set a $36.00 price target on Commscope and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Rosenblatt Securities reaffirmed a “hold” rating and set a $32.00 price target on shares of Commscope in a research report on Sunday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target 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.

Further Reading: Fundamental Analysis

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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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