Eagle Asset Management Inc. Sells 7,410 Shares of CommScope Holding Co. (COMM)
Eagle Asset Management Inc. decreased its position in CommScope Holding Co. (NASDAQ:COMM) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 523,964 shares of the company’s stock after selling 7,410 shares during the period. Eagle Asset Management Inc. owned 0.27% of CommScope Holding worth $15,776,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of COMM. Societe Generale acquired a new position in CommScope Holding during the second quarter worth about $100,000. Acrospire Investment Management LLC raised its position in 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 in the last quarter. Panagora Asset Management Inc. acquired a new position in CommScope Holding during the second quarter worth about $126,000. US Bancorp DE raised 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 worth $141,000 after buying an additional 2,160 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in CommScope Holding during the second quarter worth about $208,000.
Shares of CommScope Holding Co. (NASDAQ:COMM) traded down 0.41% during midday trading on Wednesday, reaching $36.08. 440,406 shares of the company’s stock traded hands. The stock’s 50 day moving average is $32.82 and its 200-day moving average is $31.09. The company has a market capitalization of $6.96 billion, a PE ratio of 74.24 and a beta of 1.20. CommScope Holding Co. has a 52 week low of $19.37 and a 52 week high of $36.56.
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 Zacks’ consensus estimate of $0.71 by $0.10. CommScope Holding had a net margin of 1.91% and a return on equity of 35.24%. The firm earned $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. CommScope Holding’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, analysts forecast that CommScope Holding Co. will post $2.60 earnings per share for the current fiscal year.
A number of research firms have issued reports on COMM. 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. Morgan Stanley began coverage on shares of CommScope Holding in a research report on Tuesday, September 20th. They set an “equal weight” rating and a $35.00 price target for the company. Zacks Investment Research raised shares of CommScope Holding from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, November 8th. Jefferies Group reaffirmed a “buy” rating and set a $38.00 target price on shares of CommScope Holding in a report on Thursday, September 15th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $35.00 target price on shares of CommScope Holding in a report on Monday, September 19th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. CommScope Holding presently has a consensus rating of “Buy” and an average price target of $36.25.
In related news, major shareholder Group L.P. Carlyle sold 10,000,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $30.37, for a total transaction of $303,700,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Peter U. Karlsson sold 7,796 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $29.73, for a total transaction of $231,775.08. The disclosure for this sale can be found here. Corporate insiders own 4.09% of the company’s stock.
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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