The Vanguard Group Inc. invests in CommScope Holding Co. (COMM) Shares

The Vanguard Group Inc. invests in CommScope Holding Co. (COMM) Shares

Vanguard Group Inc. increased its stake in CommScope Holding Co. (NASDAQ:COMM) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,322,245 shares of the company’s stock after buying an additional 1,701,230 shares during the period. Vanguard Group Inc. owned 5.36% of CommScope Holding worth $320,299,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Societe Generale bought a new stake in CommScope Holding during the second quarter valued at about $100,000. Acrospire Investment Management LLC raised its stake in CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock valued at $102,000 after buying an additional 2,000 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in CommScope Holding during the second quarter valued at about $208,000. Prudential Financial Inc. bought a new stake in CommScope Holding during the second quarter valued at about $208,000. Finally, Calvert Investment Management Inc. bought a new stake in CommScope Holding during the second quarter valued at about $217,000.

CommScope Holding Co. (NASDAQ:COMM) opened at 31.62 on Friday. CommScope Holding Co. has a 12-month low of $19.37 and a 12-month high of $33.54. The stock has a 50 day moving average of $30.07 and a 200 day moving average of $29.81. The firm’s market cap is $6.09 billion.

CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. The firm earned $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned $0.49 EPS. The company’s revenue was up 50.7% compared to the same quarter last year. On average, equities research analysts anticipate that CommScope Holding Co. will post $2.50 EPS for the current fiscal year.

COMM has been the topic of several recent research reports. Credit Agricole SA initiated coverage on shares of CommScope Holding in a research report on Wednesday, June 15th. They set a “buy” rating and a $40.00 target price on the stock. Deutsche Bank AG reissued a “buy” rating on shares of CommScope Holding in a report on Wednesday, June 15th. BTIG Research started coverage on shares of CommScope Holding in a report on Friday, June 17th. They set a “buy” rating and a $41.00 price target for the company. Zacks Investment Research downgraded shares of CommScope Holding from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of CommScope Holding in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.07.

In other news, major shareholder Group L.P. Carlyle sold 11,500,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $29.04, for a total transaction of $333,960,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter U. Karlsson sold 7,796 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $30.06, for a total transaction of $234,347.76. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.

CommScope Holding Company Profile

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