CommScope Holding Co. (COMM) Director Frank M. Drendel Sells 15,000 Shares
CommScope Holding Co. (NASDAQ:COMM) Director Frank M. Drendel sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $31.02, for a total value of $465,300.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Frank M. Drendel also recently made the following trade(s):
- On Monday, September 19th, Frank M. Drendel sold 30,000 shares of CommScope Holding stock. The shares were sold at an average price of $31.22, for a total value of $936,600.00.
CommScope Holding Co. (NASDAQ:COMM) opened at 31.62 on Friday. The company’s market cap is $6.09 billion. The company’s 50 day moving average price is $30.07 and its 200 day moving average price is $29.81. CommScope Holding Co. has a 52-week low of $19.37 and a 52-week high of $33.54.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The business’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. Equities research analysts anticipate that CommScope Holding Co. will post $2.50 EPS for the current fiscal year.
COMM has been the subject of several recent analyst reports. Credit Suisse Group AG restated a “buy” rating on shares of CommScope Holding in a research note on Friday, July 29th. Zacks Investment Research downgraded CommScope Holding from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Deutsche Bank AG restated a “buy” rating and set a $35.00 target price on shares of CommScope Holding in a research note on Monday, September 19th. Jefferies Group restated a “buy” rating and set a $38.00 target price on shares of CommScope Holding in a research note on Thursday, September 15th. Finally, BTIG Research initiated coverage on CommScope Holding in a research note on Friday, June 17th. They set a “buy” rating and a $41.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.07.
Institutional investors have recently made changes to their positions in the company. Societe Generale acquired a new position in shares of CommScope Holding during the second quarter worth $100,000. Acrospire Investment Management LLC increased its position in shares of CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock worth $102,000 after buying an additional 2,000 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of CommScope Holding during the second quarter worth $126,000. US Bancorp DE increased its position in shares of CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock worth $141,000 after buying an additional 2,160 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of CommScope Holding during the second quarter worth $208,000.
CommScope Holding Company Profile
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.
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