CommScope Holding Company, Inc. (COMM) Director Purchases $493,050.00 in Stock
CommScope Holding Company, Inc. (NASDAQ:COMM) Director Claudius E. Iv Watts purchased 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average price of $32.87 per share, for a total transaction of $493,050.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Claudius E. Iv Watts also recently made the following trade(s):
- On Tuesday, May 16th, Claudius E. Iv Watts bought 15,000 shares of CommScope Holding stock. The stock was purchased at an average price of $36.75 per share, for a total transaction of $551,250.00.
CommScope Holding Company, Inc. (NASDAQ COMM) traded up 0.49% on Friday, reaching $33.00. The company had a trading volume of 1,933,362 shares. CommScope Holding Company, Inc. has a 52-week low of $28.50 and a 52-week high of $42.75. The company’s 50-day moving average is $35.14 and its 200-day moving average is $37.97. The company has a market capitalization of $6.37 billion, a PE ratio of 27.55 and a beta of 1.17.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.05. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the firm posted $0.74 EPS. CommScope Holding’s revenue was down 10.2% on a year-over-year basis. Equities analysts anticipate that CommScope Holding Company, Inc. will post $2.22 EPS for the current fiscal year.
CommScope Holding announced that its board has initiated a share buyback plan on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently bought and sold shares of COMM. Bank of Montreal Can increased its stake in CommScope Holding by 9,357.0% in the first quarter. Bank of Montreal Can now owns 43,313 shares of the communications equipment provider’s stock worth $1,806,000 after buying an additional 42,855 shares during the period. Parametrica Management Ltd bought a new stake in shares of CommScope Holding during the first quarter valued at $435,000. Telemus Capital LLC increased its stake in shares of CommScope Holding by 16.8% in the first quarter. Telemus Capital LLC now owns 11,930 shares of the communications equipment provider’s stock valued at $498,000 after buying an additional 1,720 shares during the last quarter. Columbus Circle Investors increased its stake in shares of CommScope Holding by 17.4% in the first quarter. Columbus Circle Investors now owns 1,830,656 shares of the communications equipment provider’s stock valued at $76,357,000 after buying an additional 271,509 shares during the last quarter. Finally, Navellier & Associates Inc bought a new stake in shares of CommScope Holding during the first quarter valued at $493,000. 96.77% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on COMM. Morgan Stanley upgraded CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 target price on the stock in a research report on Thursday. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Northland Securities reissued a “hold” rating and issued a $28.00 price target on shares of CommScope Holding in a report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price target (down from $43.00) on shares of CommScope Holding in a report on Wednesday, August 9th. Finally, Cross Research downgraded CommScope Holding from a “buy” rating to a “hold” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. CommScope Holding has a consensus rating of “Buy” and an average target price of $41.73.
CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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