AT Bancorp decreased its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 61.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,523 shares of the communications equipment provider’s stock after selling 16,701 shares during the period. AT Bancorp’s holdings in CommScope Holding were worth $400,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 439 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 160 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in shares of CommScope Holding during the second quarter worth approximately $114,000. Financial Architects Inc boosted its stake in CommScope Holding by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 1,244 shares in the last quarter. Finally, Poplar Forest Capital LLC bought a new stake in CommScope Holding during the first quarter worth about $200,000. 96.77% of the stock is owned by institutional investors.
CommScope Holding Company, Inc. (NASDAQ:COMM) opened at 33.00 on Friday. CommScope Holding Company, Inc. has a 12 month low of $28.50 and a 12 month high of $42.75. The stock’s 50 day moving average price is $35.14 and its 200-day moving average price is $37.97. The firm has a market capitalization of $6.37 billion, a P/E ratio of 27.55 and a beta of 1.17.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.23 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The company’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. On average, analysts forecast that CommScope Holding Company, Inc. will post $2.22 earnings per share for the current year.
CommScope Holding announced that its board has authorized a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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COMM has been the topic of a number of research analyst reports. Morgan Stanley raised shares of CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 price target on the stock in a research note on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 target price on shares of CommScope Holding in a research note on Thursday, June 8th. TheStreet cut shares of CommScope Holding from a “b” rating to a “c+” rating in a research note on Monday, May 22nd. Zacks Investment Research raised shares of CommScope Holding from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, Cross Research cut shares of CommScope Holding from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.73.
In related news, Director Claudius E. Iv Watts acquired 15,000 shares of the stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $32.87 per share, for a total transaction of $493,050.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy T. Yates acquired 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $32.62 per share, for a total transaction of $163,100.00. The disclosure for this purchase can be found here. Corporate insiders own 3.33% of the company’s stock.
CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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