Stifel Financial Corp cut its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,038 shares of the communications equipment provider’s stock after selling 7,949 shares during the period. Stifel Financial Corp’s holdings in Commscope were worth $327,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Commscope by 24.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock valued at $29,187,000 after acquiring an additional 350,675 shares during the last quarter. United Services Automobile Association increased its position in Commscope by 1.8% during the 4th quarter. United Services Automobile Association now owns 34,687 shares of the communications equipment provider’s stock worth $569,000 after purchasing an additional 613 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Commscope by 9.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,134 shares of the communications equipment provider’s stock worth $1,068,000 after purchasing an additional 5,802 shares during the period. Hsbc Holdings PLC increased its position in Commscope by 42.0% during the 4th quarter. Hsbc Holdings PLC now owns 52,505 shares of the communications equipment provider’s stock worth $860,000 after purchasing an additional 15,525 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Commscope during the 4th quarter worth approximately $5,801,000. 99.84% of the stock is owned by hedge funds and other institutional investors.
In other Commscope news, SVP Peter U. Karlsson sold 6,517 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.63, for a total transaction of $147,479.71. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank M. Drendel sold 280,143 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $23.61, for a total value of $6,614,176.23. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on COMM shares. Zacks Investment Research upgraded Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Rosenblatt Securities restated a “hold” rating and issued a $24.00 price target on shares of Commscope in a report on Friday, February 22nd. ValuEngine upgraded Commscope from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Morgan Stanley set a $22.00 price target on Commscope and gave the stock a “hold” rating in a report on Friday, February 22nd. Finally, BidaskClub cut Commscope from a “sell” rating to a “strong sell” rating in a report on Saturday, March 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Commscope currently has a consensus rating of “Hold” and an average price target of $29.80.
COMM opened at $26.68 on Wednesday. The company has a market capitalization of $5.01 billion, a P/E ratio of 12.64, a PEG ratio of 2.43 and a beta of 1.15. The company has a debt-to-equity ratio of 2.27, a quick ratio of 2.03 and a current ratio of 2.72. Commscope Holding Company Inc has a 1-year low of $15.09 and a 1-year high of $41.49.
Commscope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Commscope had a return on equity of 23.55% and a net margin of 3.07%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities research analysts forecast that Commscope Holding Company Inc will post 2.68 earnings per share for the current fiscal year.
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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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