Advisors Asset Management Inc. lowered its position in Commscope Holding Company Inc (NASDAQ:COMM) by 29.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,631 shares of the communications equipment provider’s stock after selling 2,796 shares during the period. Advisors Asset Management Inc.’s holdings in Commscope were worth $194,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Harbour Group L.P. increased its holdings in Commscope by 23.3% during the 2nd quarter. Blue Harbour Group L.P. now owns 9,538,090 shares of the communications equipment provider’s stock worth $278,560,000 after purchasing an additional 1,800,000 shares in the last quarter. FMR LLC increased its holdings in Commscope by 14.2% during the 2nd quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock worth $275,208,000 after purchasing an additional 1,168,575 shares in the last quarter. BlackRock Inc. increased its holdings in Commscope by 9.4% during the 2nd quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock worth $300,874,000 after purchasing an additional 884,773 shares in the last quarter. Tobam bought a new position in Commscope during the 2nd quarter worth about $14,555,000. Finally, Makaira Partners LLC increased its holdings in Commscope by 33.0% during the 2nd quarter. Makaira Partners LLC now owns 1,821,309 shares of the communications equipment provider’s stock worth $53,191,000 after purchasing an additional 451,611 shares in the last quarter.
Shares of COMM stock opened at $19.39 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 1.34 and a beta of 1.23. Commscope Holding Company Inc has a 12-month low of $18.52 and a 12-month high of $41.60.
Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.22 billion. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. On average, sell-side analysts anticipate that Commscope Holding Company Inc will post 2.23 EPS for the current fiscal year.
COMM has been the subject of several analyst reports. Northland Securities set a $36.00 price objective on Commscope and gave the company a “buy” rating in a report on Thursday, August 2nd. Cross Research upgraded Commscope from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Credit Suisse Group set a $31.00 price objective on Commscope and gave the company a “hold” rating in a report on Wednesday, July 18th. Finally, Jefferies Financial Group cut Commscope from a “buy” rating to a “hold” rating and decreased their price objective for the company from $35.00 to $30.50 in a report on Monday, August 6th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.79.
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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.
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