Sumitomo Mitsui Asset Management Company LTD Has $476,000 Stake in Commscope Holding Company Inc (COMM)

Sumitomo Mitsui Asset Management Company LTD lessened its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 11.8% in the 4th quarter, Holdings Channel reports. The firm owned 12,588 shares of the communications equipment provider’s stock after selling 1,683 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Commscope were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. AMP Capital Investors Ltd raised its position in Commscope by 64.7% in the third quarter. AMP Capital Investors Ltd now owns 72,036 shares of the communications equipment provider’s stock worth $2,391,000 after acquiring an additional 28,300 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Commscope in the second quarter worth $128,505,000. Mackenzie Financial Corp raised its position in Commscope by 35.3% in the third quarter. Mackenzie Financial Corp now owns 19,913 shares of the communications equipment provider’s stock worth $661,000 after acquiring an additional 5,191 shares in the last quarter. New York State Common Retirement Fund raised its position in Commscope by 16.1% in the third quarter. New York State Common Retirement Fund now owns 463,414 shares of the communications equipment provider’s stock worth $15,390,000 after acquiring an additional 64,414 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in Commscope in the second quarter worth $284,000.

Commscope Holding Company Inc (NASDAQ:COMM) opened at $37.42 on Tuesday. Commscope Holding Company Inc has a 52-week low of $30.95 and a 52-week high of $42.75. The firm has a market capitalization of $7,376.77, a price-to-earnings ratio of 17.90, a PEG ratio of 2.53 and a beta of 1.13. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.10.

Several research analysts have issued reports on COMM shares. BidaskClub cut Commscope from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 20th. Citigroup increased their price objective on Commscope to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Jefferies Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Commscope in a research report on Thursday, October 12th. Zacks Investment Research upgraded Commscope from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, October 19th. Finally, ValuEngine upgraded Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $40.80.

In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $36.45, for a total value of $1,822,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank M. Drendel sold 60,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $38.01, for a total value of $2,280,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,284 shares of company stock valued at $6,807,245. Company insiders own 3.33% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Sumitomo Mitsui Asset Management Company LTD Has $476,000 Stake in Commscope Holding Company Inc (COMM)” was first published by Stock Observer and is owned by of Stock Observer. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.thestockobserver.com/2018/02/06/sumitomo-mitsui-asset-management-company-ltd-has-476000-stake-in-commscope-holding-company-inc-comm.html.

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.

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commscope Holding Company Inc (NASDAQ:COMM).

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply