CommScope Holding Company, Inc. (COMM) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. raised its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 11.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,929 shares of the communications equipment provider’s stock after buying an additional 2,566 shares during the period. Pacer Advisors Inc.’s holdings in CommScope Holding were worth $948,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Utah Retirement Systems boosted its position in CommScope Holding by 49.8% in the second quarter. Utah Retirement Systems now owns 34,900 shares of the communications equipment provider’s stock valued at $1,327,000 after buying an additional 11,600 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of CommScope Holding during the second quarter valued at about $14,795,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of CommScope Holding during the second quarter valued at about $2,222,000. Andra AP fonden purchased a new position in shares of CommScope Holding during the second quarter valued at about $1,491,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of CommScope Holding by 14.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 14,192 shares of the communications equipment provider’s stock valued at $541,000 after buying an additional 1,767 shares during the period.
Shares of CommScope Holding Company, Inc. (NASDAQ COMM) opened at 32.78 on Wednesday. The firm has a 50-day moving average price of $34.53 and a 200-day moving average price of $37.78. The company has a market capitalization of $6.33 billion, a PE ratio of 27.36 and a beta of 1.17. CommScope Holding Company, Inc. has a 1-year low of $29.03 and a 1-year high of $42.75.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $1.23 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was down 10.2% compared to the same quarter last year. Equities analysts anticipate that CommScope Holding Company, Inc. will post $2.22 earnings per share for the current year.
CommScope Holding declared that its Board of Directors has approved a stock buyback program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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COMM has been the topic of several research analyst reports. Morgan Stanley upgraded CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective on the stock in a research note on Thursday, August 17th. Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective on shares of CommScope Holding in a research note on Thursday, June 8th. TheStreet cut CommScope Holding from a “b” rating to a “c+” rating in a research note on Monday, May 22nd. Zacks Investment Research upgraded CommScope Holding from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, Cross Research cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. CommScope Holding presently has a consensus rating of “Buy” and an average target price of $41.73.
In related news, Director Claudius E. Iv Watts bought 15,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were purchased at an average cost of $32.87 per share, with a total value of $493,050.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy T. Yates bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $32.62 per share, for a total transaction of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by insiders.
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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