New York State Common Retirement Fund lifted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 47.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 399,000 shares of the communications equipment provider’s stock after acquiring an additional 127,999 shares during the period. New York State Common Retirement Fund owned approximately 0.21% of CommScope Holding worth $15,174,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in COMM. Thrivent Financial For Lutherans bought a new position in CommScope Holding during the second quarter worth about $1,430,000. Lingohr & Partner Asset Management GmbH raised its stake in CommScope Holding by 23.5% in the 2nd quarter. Lingohr & Partner Asset Management GmbH now owns 29,640 shares of the communications equipment provider’s stock worth $1,236,000 after purchasing an additional 5,644 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in CommScope Holding by 14.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 31,374 shares of the communications equipment provider’s stock valued at $1,193,000 after purchasing an additional 3,845 shares during the period. ProShare Advisors LLC boosted its holdings in CommScope Holding by 48.1% in the 2nd quarter. ProShare Advisors LLC now owns 7,207 shares of the communications equipment provider’s stock valued at $274,000 after purchasing an additional 2,340 shares during the period. Finally, Poplar Forest Capital LLC boosted its holdings in CommScope Holding by 245.8% in the 2nd quarter. Poplar Forest Capital LLC now owns 16,600 shares of the communications equipment provider’s stock valued at $631,000 after purchasing an additional 11,800 shares during the period.

A number of research analysts have issued reports on the stock. Morgan Stanley upgraded shares of CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 target price on the stock in a research report on Thursday, August 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price target on shares of CommScope Holding in a research report on Thursday, June 8th. Zacks Investment Research upgraded shares of CommScope Holding from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Cross Research cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Northland Securities reiterated a “hold” rating and issued a $30.00 price target on shares of CommScope Holding in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.73.

In other news, Director Claudius E. Iv Watts purchased 15,000 shares of the stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $32.87 per share, with a total value of $493,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy T. Yates purchased 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $32.62 per share, for a total transaction of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by company insiders.

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CommScope Holding Company, Inc. (COMM) opened at 33.80 on Wednesday. The firm’s 50-day moving average is $33.11 and its 200 day moving average is $36.68. The firm has a market capitalization of $6.52 billion, a P/E ratio of 28.21 and a beta of 1.18. CommScope Holding Company, Inc. has a 12 month low of $29.91 and a 12 month high of $42.75.

CommScope Holding (NASDAQ:COMM) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.05). The company 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%. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, analysts expect that CommScope Holding Company, Inc. will post $2.22 EPS for the current fiscal year.

CommScope Holding announced that its board has initiated a stock buyback program on Thursday, August 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.

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

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