Ironsides Asset Advisors LLC Has $628,000 Stake in CommScope Holding Company, Inc. (COMM)

Ironsides Asset Advisors LLC grew its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 79.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,905 shares of the communications equipment provider’s stock after acquiring an additional 8,350 shares during the period. Ironsides Asset Advisors LLC’s holdings in CommScope Holding were worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in COMM. Capital Research Global Investors boosted its holdings in shares of CommScope Holding by 478.2% during the 2nd quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock worth $551,533,000 after buying an additional 11,994,126 shares during the period. Janus Henderson Group PLC bought a new stake in shares of CommScope Holding during the 2nd quarter worth about $128,505,000. JPMorgan Chase & Co. boosted its holdings in shares of CommScope Holding by 54.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock worth $315,936,000 after buying an additional 2,930,632 shares during the period. BlackRock Inc. boosted its holdings in shares of CommScope Holding by 19.0% during the 2nd quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock worth $580,929,000 after buying an additional 2,438,894 shares during the period. Finally, Harris Associates L P boosted its holdings in shares of CommScope Holding by 58.6% during the 2nd quarter. Harris Associates L P now owns 6,390,730 shares of the communications equipment provider’s stock worth $243,039,000 after buying an additional 2,361,663 shares during the period. 99.22% of the stock is owned by institutional investors.

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) traded down $0.27 during trading hours on Thursday, hitting $33.57. 1,121,500 shares of the stock traded hands, compared to its average volume of 2,038,030. The firm has a market cap of $6,455.39, a PE ratio of 15.67, a PEG ratio of 2.64 and a beta of 1.16. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 2.93. CommScope Holding Company, Inc. has a one year low of $30.95 and a one year high of $42.75.

CommScope Holding (NASDAQ:COMM) last issued its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS. sell-side analysts forecast that CommScope Holding Company, Inc. will post 2.01 EPS for the current fiscal year.

CommScope Holding declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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COMM has been the subject of several research analyst reports. BidaskClub downgraded shares of CommScope Holding from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Northland Securities reaffirmed a “hold” rating and set a $30.00 target price on shares of CommScope Holding in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of CommScope Holding from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Barclays PLC downgraded shares of CommScope Holding from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $41.00 to $36.00 in a report on Friday, August 4th. Finally, Longbow Research downgraded shares of CommScope Holding from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.30.

About CommScope Holding

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

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