Short Interest in CommScope Holding Co. (COMM) Expands By 20.6%
CommScope Holding Co. (NASDAQ:COMM) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 8,004,822 shares, a growth of 20.6% from the October 14th total of 6,635,160 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 1,345,417 shares, the short-interest ratio is currently 5.9 days.
Several equities analysts recently weighed in on COMM shares. Jefferies Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of CommScope Holding in a research note on Thursday, September 15th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $35.00 price objective on shares of CommScope Holding in a research note on Monday, September 19th. 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 objective for the company. Zacks Investment Research downgraded CommScope Holding from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $36.00 price target 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 currently has an average rating of “Buy” and a consensus target price of $36.25.
In related news, SVP Peter U. Karlsson sold 7,796 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $29.73, for a total value of $231,775.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Randall W. Crenshaw sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $31.18, for a total value of $1,559,000.00. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in COMM. Societe Generale bought a new stake in shares of CommScope Holding during the second quarter worth approximately $100,000. Acrospire Investment Management LLC increased 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 worth $102,000 after buying an additional 2,000 shares during the period. Mercer Capital Advisers Inc. bought a new stake in shares of CommScope Holding during the third quarter worth approximately $119,000. Panagora Asset Management Inc. bought a new stake in shares of CommScope Holding during the second quarter worth approximately $126,000. Finally, US Bancorp DE increased its stake 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.
CommScope Holding (NASDAQ:COMM) opened at 33.56 on Friday. The company has a 50-day moving average price of $31.39 and a 200-day moving average price of $30.61. The firm has a market cap of $6.47 billion, a PE ratio of 69.05 and a beta of 1.20. CommScope Holding has a one year low of $19.37 and a one year high of $34.92.
CommScope Holding (NASDAQ:COMM) last released its earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The firm earned $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. CommScope Holding had a return on equity of 35.24% and a net margin of 1.91%. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. Equities analysts predict that CommScope Holding will post $2.60 earnings per share for the current fiscal year.
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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