Insider Selling: Commscope Holding Company Inc (COMM) Director Sells 5,284 Shares of Stock
Commscope Holding Company Inc (NASDAQ:COMM) Director Frank M. Drendel sold 5,284 shares of Commscope stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Frank M. Drendel also recently made the following trade(s):
- On Monday, December 11th, Frank M. Drendel sold 60,000 shares of Commscope stock. The shares were sold at an average price of $38.01, for a total transaction of $2,280,600.00.
Commscope Holding Company Inc (NASDAQ:COMM) traded up $0.52 during trading hours on Tuesday, hitting $38.43. 1,682,100 shares of the company’s stock traded hands, compared to its average volume of 2,006,386. The firm has a market capitalization of $7,231.79, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.96 and a beta of 1.20. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Commscope Holding Company Inc has a fifty-two week low of $30.95 and a fifty-two week high of $42.75.
Commscope (NASDAQ:COMM) last released its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. research analysts expect that Commscope Holding Company Inc will post 2.01 earnings per share for the current fiscal year.
Several equities analysts have commented on COMM shares. ValuEngine upgraded shares of Commscope from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Commscope from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Northland Securities restated a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Morgan Stanley upgraded shares of Commscope from an “equal weight” rating to an “overweight” rating and set a $38.00 price target for the company in a research note on Thursday, August 17th. Finally, Jefferies Group restated a “buy” rating and issued a $40.00 price target on shares of Commscope in a research note on Wednesday, September 20th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Commscope presently has an average rating of “Buy” and an average price target of $40.30.
Institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Commscope during the 2nd quarter worth $21,145,000. Utah Retirement Systems lifted its position in shares of Commscope by 49.8% during the 2nd quarter. Utah Retirement Systems now owns 34,900 shares of the communications equipment provider’s stock worth $1,327,000 after purchasing an additional 11,600 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Commscope during the 2nd quarter worth $38,211,000. Andra AP fonden purchased a new stake in shares of Commscope during the 2nd quarter worth $1,491,000. Finally, Swiss National Bank lifted its position in shares of Commscope by 122.7% during the 2nd quarter. Swiss National Bank now owns 710,000 shares of the communications equipment provider’s stock worth $27,001,000 after purchasing an additional 391,157 shares during the last quarter.
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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