Traders Sell CommScope Holding Co. (COMM) on Strength Following Insider Selling
Investors sold shares of CommScope Holding Co. (NASDAQ:COMM) on strength during trading on Wednesday following insider selling activity. $24.71 million flowed into the stock on the tick-up and $44.55 million flowed out of the stock on the tick-down, for a money net flow of $19.84 million out of the stock. Of all companies tracked, CommScope Holding had the 25th highest net out-flow for the day. CommScope Holding traded up $0.03 for the day and closed at $35.00Specifically, SVP Frank B. Wyatt II sold 10,400 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $33.11, for a total transaction of $344,344.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy T. Yates acquired 5,000 shares of the stock in a transaction on Monday, November 14th. The shares were purchased at an average cost of $34.87 per share, with a total value of $174,350.00. The disclosure for this purchase can be found here. 4.09% of the stock is owned by corporate insiders.
Several equities analysts have commented on COMM shares. Jefferies Group reissued a “buy” rating and set a $38.00 price objective on shares of CommScope Holding in a research report on Thursday, September 15th. Deutsche Bank AG reissued a “buy” rating and set a $35.00 price objective on shares of CommScope Holding in a research report on Monday, September 19th. Zacks Investment Research lowered CommScope Holding from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Morgan Stanley started coverage on CommScope Holding in a research report on Tuesday, September 20th. They set an “equal weight” rating and a $35.00 price objective for the company. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $36.00 price objective 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 assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.25.
The company has a 50 day moving average of $31.65 and a 200-day moving average of $30.73. The firm has a market capitalization of $6.75 billion, a P/E ratio of 72.02 and a beta of 1.20.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share for the quarter, topping 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 business earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business earned $0.53 EPS. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. Analysts predict that CommScope Holding Co. will post $2.60 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in 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 period. State Street Corp raised its position in CommScope Holding by 2.7% in the first quarter. State Street Corp now owns 1,273,166 shares of the company’s stock valued at $35,549,000 after buying an additional 33,658 shares during the period. Geode Capital Management LLC raised its position in CommScope Holding by 7.2% in the first quarter. Geode Capital Management LLC now owns 845,167 shares of the company’s stock valued at $23,596,000 after buying an additional 56,696 shares during the period. Bayesian Capital Management LP bought a new position in CommScope Holding during the first quarter valued at about $244,000. Finally, A.R.T. Advisors LLC bought a new position in CommScope Holding during the first quarter valued at about $663,000.
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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