Jacobs Levy Equity Management Inc. Has $10.87 Million Holdings in Commscope Holding Company Inc (NASDAQ:COMM)

Jacobs Levy Equity Management Inc. raised its position in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 29.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 500,037 shares of the communications equipment provider’s stock after buying an additional 113,400 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Commscope were worth $10,866,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc grew its holdings in Commscope by 1.8% in the third quarter. Vanguard Group Inc now owns 17,155,725 shares of the communications equipment provider’s stock worth $527,711,000 after purchasing an additional 303,966 shares during the last quarter. Rhumbline Advisers grew its holdings in Commscope by 2.5% in the fourth quarter. Rhumbline Advisers now owns 172,645 shares of the communications equipment provider’s stock worth $2,830,000 after purchasing an additional 4,221 shares during the last quarter. M&T Bank Corp grew its holdings in Commscope by 7.0% in the fourth quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock worth $193,000 after purchasing an additional 774 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Commscope by 11.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock worth $124,000 after purchasing an additional 750 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Commscope by 587.8% in the fourth quarter. Mackenzie Financial Corp now owns 139,176 shares of the communications equipment provider’s stock worth $2,281,000 after purchasing an additional 118,941 shares during the last quarter. 97.69% of the stock is owned by institutional investors.

COMM has been the topic of several analyst reports. Zacks Investment Research raised shares of Commscope from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday, March 29th. Deutsche Bank initiated coverage on shares of Commscope in a report on Friday, April 12th. They issued a “buy” rating and a $40.00 price target on the stock. Rosenblatt Securities raised shares of Commscope from a “neutral” rating to a “buy” rating and cut their price target for the stock from $24.00 to $22.00 in a report on Wednesday. BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a report on Sunday, April 7th. Finally, Morgan Stanley set a $22.00 price target on shares of Commscope and gave the stock a “hold” rating in a report on Friday, February 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.35.

In other news, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.35, for a total transaction of $1,482,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Bruce William Mcclelland acquired 4,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $18.28 per share, with a total value of $73,120.00. The disclosure for this purchase can be found here. Insiders own 3.25% of the company’s stock.

Shares of NASDAQ:COMM traded down $0.50 on Friday, hitting $15.90. 5,004,167 shares of the company were exchanged, compared to its average volume of 2,535,155. Commscope Holding Company Inc has a 1-year low of $15.09 and a 1-year high of $32.48. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 4.28. The company has a market capitalization of $3.17 billion, a P/E ratio of 7.54, a PEG ratio of 0.36 and a beta of 1.49.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, May 9th. The communications equipment provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Commscope had a net margin of 2.29% and a return on equity of 23.46%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts forecast that Commscope Holding Company Inc will post 2.26 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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