CommScope Holding Company, Inc. (COMM) Short Interest Update
CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 7,495,507 shares, an increase of 46.8% from the July 31st total of 5,107,403 shares. Based on an average daily trading volume, of 3,559,017 shares, the short-interest ratio is currently 2.1 days. Approximately 3.9% of the company’s shares are short sold.
A number of analysts have issued reports on the company. Jefferies Group LLC reissued a “buy” rating and issued a $43.00 price target on shares of CommScope Holding in a research note on Friday, July 14th. Barclays PLC lowered CommScope Holding from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $41.00 to $36.00 in a research note on Friday, August 4th. Zacks Investment Research lowered CommScope Holding from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Longbow Research lowered CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Finally, TheStreet raised CommScope Holding from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $41.73.
In other CommScope Holding news, Director Timothy T. Yates purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $32.62 per share, with a total value of $163,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claudius E. Iv Watts purchased 15,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $32.87 per share, for a total transaction of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 160 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 439 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in shares of CommScope Holding during the second quarter worth about $114,000. Krilogy Financial LLC boosted its stake in shares of CommScope Holding by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 170 shares in the last quarter. Finally, Financial Architects Inc boosted its stake in shares of CommScope Holding by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 1,244 shares in the last quarter. Institutional investors own 96.77% of the company’s stock.
Shares of CommScope Holding (COMM) opened at 32.90 on Friday. The company’s 50 day moving average price is $34.53 and its 200 day moving average price is $37.78. The stock has a market capitalization of $6.35 billion, a P/E ratio of 27.46 and a beta of 1.17. CommScope Holding has a one year low of $29.03 and a one year high of $42.75.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities analysts expect that CommScope Holding will post $2.22 earnings per share for the current year.
CommScope Holding announced that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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