Frank B. Wyatt II Sells 10,400 Shares of CommScope Holding Co. (COMM) Stock
CommScope Holding Co. (NASDAQ:COMM) SVP Frank B. Wyatt II sold 10,400 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $33.11, for a total value of $344,344.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
CommScope Holding Co. (NASDAQ:COMM) opened at 34.11 on Friday. The firm has a market cap of $6.58 billion, a PE ratio of 70.19 and a beta of 1.20. CommScope Holding Co. has a 12-month low of $19.37 and a 12-month high of $34.92. The firm has a 50-day moving average price of $31.32 and a 200 day moving average price of $30.56.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.10. CommScope Holding had a return on equity of 35.24% and a net margin of 1.91%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 33.0% on a year-over-year basis. Equities research analysts forecast that CommScope Holding Co. will post $2.60 EPS for the current year.
A number of brokerages have issued reports on COMM. JPMorgan Chase & Co. set a $40.00 price target on CommScope Holding and gave the stock a “buy” rating in a research note on Sunday, November 6th. Morgan Stanley began coverage on CommScope Holding in a research note on Tuesday, September 20th. They issued an “equal weight” rating and a $35.00 price target on the stock. Credit Suisse Group AG reissued a “buy” rating and issued a $36.00 price target on shares of CommScope Holding in a research note on Friday, November 4th. TheStreet lowered CommScope Holding from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Finally, Jefferies Group reissued a “buy” rating and issued a $38.00 price target on shares of CommScope Holding in a research note on Thursday, September 15th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. CommScope Holding currently has an average rating of “Buy” and a consensus target price of $36.25.
Several institutional investors have recently made changes to their positions in COMM. BNP Paribas Arbitrage SA boosted its position in shares of CommScope Holding by 961.5% in the second quarter. BNP Paribas Arbitrage SA now owns 20,847 shares of the company’s stock valued at $647,000 after buying an additional 18,883 shares during the last quarter. BlackRock Inc. boosted its position in shares of CommScope Holding by 220.0% in the first quarter. BlackRock Inc. now owns 14,404 shares of the company’s stock valued at $402,000 after buying an additional 9,903 shares during the last quarter. Columbus Circle Investors boosted its position in shares of CommScope Holding by 42.6% in the second quarter. Columbus Circle Investors now owns 3,372,271 shares of the company’s stock valued at $104,642,000 after buying an additional 1,007,506 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of CommScope Holding during the second quarter valued at $1,814,000. Finally, Calvert Investment Management Inc. bought a new position in shares of CommScope Holding during the second quarter valued at $217,000.
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.
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