CommScope Holding Company, Inc. (NASDAQ:COMM) CFO Acquires $245,000.00 in Stock

CommScope Holding Company, Inc. (NASDAQ:COMM) CFO Kyle David Lorentzen acquired 25,000 shares of the stock in a transaction on Thursday, November 18th. The shares were purchased at an average price of $9.80 per share, for a total transaction of $245,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NASDAQ:COMM opened at $10.79 on Thursday. The stock’s 50-day simple moving average is $11.76 and its 200 day simple moving average is $16.34. CommScope Holding Company, Inc. has a twelve month low of $9.25 and a twelve month high of $22.18. The firm has a market capitalization of $2.21 billion, a PE ratio of -5.40, a price-to-earnings-growth ratio of 0.58 and a beta of 1.70. The company has a quick ratio of 1.05, a current ratio of 1.65 and a debt-to-equity ratio of 137.66.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 4th. The communications equipment provider reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). CommScope had a negative net margin of 4.14% and a positive return on equity of 269.72%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that CommScope Holding Company, Inc. will post 1.02 EPS for the current fiscal year.

A number of research analysts recently commented on COMM shares. Bank of America cut CommScope from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $15.00 in a research report on Thursday, September 23rd. Zacks Investment Research cut CommScope from a “hold” rating to a “strong sell” rating and set a $8.50 price target on the stock. in a research report on Monday, November 15th. Credit Suisse Group decreased their price target on CommScope from $12.00 to $9.20 and set a “neutral” rating on the stock in a research report on Friday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on CommScope from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, November 9th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.25.

Several hedge funds have recently made changes to their positions in COMM. Amundi Pioneer Asset Management Inc. lifted its stake in shares of CommScope by 16.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock worth $2,109,000 after acquiring an additional 13,824 shares during the period. Stifel Financial Corp acquired a new position in shares of CommScope in the first quarter worth approximately $250,000. Dimensional Fund Advisors LP lifted its stake in shares of CommScope by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,577,551 shares of the communications equipment provider’s stock worth $24,238,000 after acquiring an additional 282,335 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of CommScope by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 77,176 shares of the communications equipment provider’s stock worth $1,185,000 after acquiring an additional 11,577 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of CommScope by 0.9% in the first quarter. Royal Bank of Canada now owns 85,760 shares of the communications equipment provider’s stock worth $1,317,000 after acquiring an additional 726 shares during the period. 90.72% of the stock is currently owned by hedge funds and other institutional investors.

About CommScope

CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.

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