Los Angeles Capital Management & Equity Research Inc. Buys 57,450 Shares of CommScope Holding Company, Inc. (COMM)

Los Angeles Capital Management & Equity Research Inc. increased its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 37.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,631 shares of the communications equipment provider’s stock after purchasing an additional 57,450 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.11% of CommScope Holding worth $8,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COMM. Bank of Montreal Can grew its position in shares of 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 valued at $1,806,000 after purchasing an additional 42,855 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of CommScope Holding in the first quarter valued at $203,000. Janney Montgomery Scott LLC grew its position in shares of CommScope Holding by 23.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,572 shares of the communications equipment provider’s stock valued at $399,000 after purchasing an additional 1,789 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of CommScope Holding by 68.5% in the first quarter. Wells Fargo & Company MN now owns 973,018 shares of the communications equipment provider’s stock valued at $40,585,000 after purchasing an additional 395,564 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of CommScope Holding by 21.1% in the first quarter. Advisors Asset Management Inc. now owns 17,346 shares of the communications equipment provider’s stock valued at $724,000 after purchasing an additional 3,019 shares in the last quarter.

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CommScope Holding Company, Inc. (NASDAQ COMM) opened at 33.04 on Monday. The company’s 50-day moving average price is $33.67 and its 200 day moving average price is $37.40. CommScope Holding Company, Inc. has a 52-week low of $29.03 and a 52-week high of $42.75. The stock has a market capitalization of $6.38 billion, a PE ratio of 27.58 and a beta of 1.19.

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 the Zacks’ consensus estimate of $0.65 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.23 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. CommScope Holding’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Equities analysts forecast that CommScope Holding Company, Inc. will post $2.22 EPS for the current fiscal year.

CommScope Holding declared that its Board of Directors has authorized 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. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Timothy T. Yates acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $32.62 per share, for a total transaction of $163,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Claudius E. Iv Watts acquired 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $32.87 per share, with a total value of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on the company. Barclays PLC cut CommScope Holding from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $41.00 to $36.00 in a research report on Friday, August 4th. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Northland Securities reiterated a “hold” rating and issued a $28.00 price target on shares of CommScope Holding in a research report on Thursday, August 10th. Morgan Stanley upgraded CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 price target for the company in a research report on Thursday, August 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price target on shares of CommScope Holding in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. CommScope Holding presently has an average rating of “Buy” and an average price target 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.

Institutional Ownership by Quarter for CommScope Holding (NASDAQ:COMM)

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