CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) CFO Kyle David Lorentzen acquired 11,600 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $14,500.00. Following the completion of the purchase, the chief financial officer now directly owns 712,475 shares of the company's stock, valued at approximately $890,593.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
CommScope Price Performance
Shares of NASDAQ COMM opened at $1.31 on Friday. The company's fifty day moving average is $1.82 and its 200-day moving average is $2.22. CommScope Holding Company, Inc. has a twelve month low of $0.89 and a twelve month high of $6.65.
CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.53 billion. CommScope had a negative return on equity of 7.18% and a negative net margin of 21.64%. Analysts expect that CommScope Holding Company, Inc. will post -0.29 EPS for the current year.
Institutional Investors Weigh In On CommScope
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Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in CommScope by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider's stock valued at $124,578,000 after acquiring an additional 2,745,209 shares in the last quarter. Wellington Management Group LLP lifted its position in CommScope by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 18,146,557 shares of the communications equipment provider's stock valued at $142,995,000 after acquiring an additional 195,374 shares in the last quarter. BlackRock Inc. lifted its position in CommScope by 6.7% in the 2nd quarter. BlackRock Inc. now owns 16,479,026 shares of the communications equipment provider's stock valued at $92,777,000 after acquiring an additional 1,033,406 shares in the last quarter. First Trust Advisors LP increased its stake in CommScope by 42.7% in the 4th quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider's stock valued at $36,862,000 after buying an additional 3,911,673 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in CommScope by 59.1% in the 1st quarter. Bank of America Corp DE now owns 8,226,097 shares of the communications equipment provider's stock valued at $52,400,000 after buying an additional 3,056,141 shares during the last quarter. 88.04% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Bank of America decreased their price target on shares of CommScope from $2.00 to $1.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 13th. StockNews.com cut shares of CommScope from a "hold" rating to a "sell" rating in a research note on Friday, March 1st. Northland Securities reaffirmed a "market perform" rating on shares of CommScope in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of CommScope in a research note on Monday, March 4th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $4.27.
Check Out Our Latest Research Report on COMM
CommScope Company Profile
(
Get Free Report)
CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.
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