Massey Quick Simon & CO. LLC Purchases New Position in CommScope Holding Company, Inc. (COMM)

Massey Quick Simon & CO. LLC purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,593 shares of the communications equipment provider’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in CommScope Holding by 1.2% during the second quarter. Vanguard Group Inc. now owns 15,843,334 shares of the communications equipment provider’s stock worth $602,522,000 after purchasing an additional 183,790 shares during the period. BlackRock Inc. lifted its stake in CommScope Holding by 19.0% during the second quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock worth $580,929,000 after purchasing an additional 2,438,894 shares during the period. Capital Research Global Investors lifted its stake in CommScope Holding by 478.2% during the second quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock worth $551,533,000 after purchasing an additional 11,994,126 shares during the period. FMR LLC lifted its stake in CommScope Holding by 6.6% during the second quarter. FMR LLC now owns 11,279,906 shares of the communications equipment provider’s stock worth $428,975,000 after purchasing an additional 702,210 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in CommScope Holding by 54.5% during the second quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock worth $315,936,000 after purchasing an additional 2,930,632 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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Shares of CommScope Holding Company, Inc. (COMM) traded up $0.15 during trading on Tuesday, hitting $33.94. 1,279,000 shares of the company were exchanged, compared to its average volume of 2,048,224. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $6,445.85, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.64 and a beta of 1.16. CommScope Holding Company, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $42.75.

CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. CommScope Holding’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. equities analysts anticipate that CommScope Holding Company, Inc. will post 2.01 earnings per share for the current fiscal year.

CommScope Holding announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

COMM has been the subject of a number of research analyst reports. BidaskClub cut shares of CommScope Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Northland Securities reiterated a “hold” rating and issued a $30.00 target price on shares of CommScope Holding in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of CommScope Holding from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Barclays PLC cut shares of CommScope Holding from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $41.00 to $36.00 in a research note on Friday, August 4th. Finally, Longbow Research cut shares of CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.30.

CommScope Holding 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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