Frank M. Drendel Sells 15,000 Shares of CommScope Holding Co. (COMM) Stock
CommScope Holding Co. (NASDAQ:COMM) Director Frank M. Drendel sold 15,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available through this link.
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 stock was 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. CommScope Holding Co. has a 52 week low of $19.37 and a 52 week high of $33.54. 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 (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $0.49 EPS. CommScope Holding’s revenue for the quarter was up 50.7% compared to the same quarter last year. On average, analysts anticipate that CommScope Holding Co. will post $2.50 EPS for the current year.
COMM has been the topic of several analyst reports. Deutsche Bank AG dropped their target price on CommScope Holding from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. BTIG Research initiated coverage on CommScope Holding in a research report on Friday, June 17th. They issued a “buy” rating and a $41.00 target price on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of CommScope Holding in a research report on Friday, July 29th. Zacks Investment Research raised 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. Finally, TheStreet raised CommScope Holding from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. CommScope Holding currently has a consensus rating of “Buy” and a consensus price target of $34.07.
Several hedge funds have recently made changes to their positions in COMM. Societe Generale purchased a new stake in shares of CommScope Holding during the second quarter valued at $100,000. Acrospire Investment Management LLC raised its stake 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 valued at $102,000 after buying an additional 2,000 shares during the last quarter. Panagora Asset Management Inc. bought a new position in CommScope Holding during the second quarter valued at approximately $126,000. US Bancorp DE increased 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 period. Finally, Quantitative Systematic Strategies LLC bought a new position in CommScope Holding during the second quarter valued at approximately $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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