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 CommScope stock in a transaction dated 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

COMM opened at $10.79 on Thursday. The stock has a market cap of $2.21 billion, a PE ratio of -5.40, a PEG 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. The business has a 50 day moving average of $11.76 and a 200-day moving average of $16.34. CommScope Holding Company, Inc. has a 52 week low of $9.25 and a 52 week high of $22.18.

CommScope (NASDAQ:COMM) last released its 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). The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.21 billion. CommScope had a negative net margin of 4.14% and a positive return on equity of 269.72%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 EPS. Equities analysts anticipate that CommScope Holding Company, Inc. will post 1.02 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COMM. Amundi Pioneer Asset Management Inc. lifted its stake in shares of CommScope by 16.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock valued at $2,109,000 after purchasing an additional 13,824 shares during the period. Stifel Financial Corp bought a new position in CommScope during the 1st quarter valued at approximately $250,000. Dimensional Fund Advisors LP increased its position in CommScope by 21.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,577,551 shares of the communications equipment provider’s stock valued at $24,238,000 after buying an additional 282,335 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in CommScope by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 77,176 shares of the communications equipment provider’s stock valued at $1,185,000 after buying an additional 11,577 shares in the last quarter. Finally, Royal Bank of Canada increased its position in CommScope by 0.9% during the 1st quarter. Royal Bank of Canada now owns 85,760 shares of the communications equipment provider’s stock valued at $1,317,000 after buying an additional 726 shares in the last quarter. Institutional investors own 90.72% of the company’s stock.

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

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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