AT Bancorp decreased its stake in shares of CommScope Holding Co. (NASDAQ:COMM) by 39.2% during the third quarter, Holdings Channel reports. The institutional investor owned 59,449 shares of the company’s stock after selling 38,373 shares during the period. AT Bancorp’s holdings in CommScope Holding were worth $1,790,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Societe Generale acquired a new position in CommScope Holding during the second quarter valued at about $100,000. Acrospire Investment Management LLC boosted its position 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 during the last quarter. Panagora Asset Management Inc. acquired a new position in CommScope Holding during the second quarter valued at about $126,000. US Bancorp DE boosted its position in CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock valued at $141,000 after buying an additional 2,160 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in CommScope Holding during the second quarter valued at about $208,000.
Shares of CommScope Holding Co. (NASDAQ:COMM) traded down 1.46% during midday trading on Monday, reaching $35.83. The company’s stock had a trading volume of 1,494,618 shares. The stock’s 50 day moving average is $32.82 and its 200 day moving average is $31.09. The stock has a market capitalization of $6.91 billion, a PE ratio of 73.72 and a beta of 1.20. CommScope Holding Co. has a 12 month low of $19.37 and a 12 month high of $36.56.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.29 billion. CommScope Holding had a return on equity of 35.24% and a net margin of 1.91%. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, analysts forecast that CommScope Holding Co. will post $2.60 EPS for the current fiscal year.
COMM has been the topic of several recent analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $35.00 target price on shares of CommScope Holding in a research report on Monday, September 19th. Zacks Investment Research upgraded CommScope Holding from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, September 27th. TheStreet cut CommScope Holding from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Jefferies Group reiterated a “buy” rating and set a $38.00 target price on shares of CommScope Holding in a research report on Thursday, September 15th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $36.00 target price on shares of CommScope Holding in a research report on Friday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $36.25.
In other CommScope Holding news, Director Timothy T. Yates purchased 5,000 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were bought at an average price of $34.87 per share, with a total value of $174,350.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Group L.P. Carlyle sold 10,000,000 shares of CommScope Holding stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $30.37, for a total value of $303,700,000.00. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.
About CommScope Holding
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.