AMP Capital Investors Ltd Raises Position in Commscope Holding Company Inc (COMM)
AMP Capital Investors Ltd raised its holdings in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 64.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,036 shares of the communications equipment provider’s stock after buying an additional 28,300 shares during the period. AMP Capital Investors Ltd’s holdings in Commscope were worth $2,391,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Aperio Group LLC boosted its stake in Commscope by 89.8% in the 2nd quarter. Aperio Group LLC now owns 19,926 shares of the communications equipment provider’s stock worth $758,000 after purchasing an additional 9,427 shares during the period. Janney Montgomery Scott LLC boosted its stake in Commscope by 9.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,494 shares of the communications equipment provider’s stock worth $399,000 after purchasing an additional 922 shares during the period. Great West Life Assurance Co. Can boosted its stake in Commscope by 197.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 62,867 shares of the communications equipment provider’s stock worth $2,388,000 after purchasing an additional 41,701 shares during the period. Pictet Asset Management Ltd. acquired a new position in Commscope in the 2nd quarter worth approximately $2,345,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Commscope in the 2nd quarter worth approximately $977,000.
A number of equities analysts recently commented on the stock. BidaskClub raised shares of Commscope from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 14th. ValuEngine raised shares of Commscope from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Northland Securities reaffirmed a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Commscope from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Citigroup increased their target price on shares of Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.30.
Commscope (NASDAQ:COMM) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was down 12.8% compared to the same quarter last year. equities analysts expect that Commscope Holding Company Inc will post 2.01 earnings per share for the current year.
In other news, Director Frank M. Drendel sold 5,284 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $38.01, for a total transaction of $200,844.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $36.45, for a total transaction of $1,822,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,284 shares of company stock valued at $4,303,945. Insiders own 3.33% of the company’s stock.
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Commscope 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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