Eagle Asset Management Inc. lessened its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 21.0% in the 4th quarter, Holdings Channel reports. The firm owned 336,579 shares of the communications equipment provider’s stock after selling 89,664 shares during the period. Eagle Asset Management Inc.’s holdings in Commscope were worth $12,732,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Taurus Asset Management LLC purchased a new stake in Commscope during the 3rd quarter valued at about $222,000. Parametrica Management Ltd purchased a new stake in Commscope during the 4th quarter valued at about $276,000. Achmea Investment Management B.V. purchased a new stake in Commscope during the 2nd quarter valued at about $284,000. Massey Quick Simon & CO. LLC purchased a new stake in Commscope during the 3rd quarter valued at about $252,000. Finally, The Manufacturers Life Insurance Company grew its stake in Commscope by 29.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,705 shares of the communications equipment provider’s stock valued at $294,000 after acquiring an additional 1,760 shares in the last quarter.
In other news, Director Frank M. Drendel sold 5,284 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $38.01, for a total value of $200,844.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $36.45, for a total transaction of $1,822,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 180,284 shares of company stock valued at $6,807,245. Corporate insiders own 3.33% of the company’s stock.
Shares of Commscope Holding Company Inc (NASDAQ:COMM) opened at $38.78 on Wednesday. Commscope Holding Company Inc has a one year low of $30.95 and a one year high of $42.75. The company has a quick ratio of 2.07, a current ratio of 2.69 and a debt-to-equity ratio of 2.65. The firm has a market cap of $7,451.73, a P/E ratio of 39.57, a PEG ratio of 2.46 and a beta of 1.13.
Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Commscope had a net margin of 4.25% and a return on equity of 26.02%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. sell-side analysts forecast that Commscope Holding Company Inc will post 2.48 earnings per share for the current year.
Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Commscope to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research cut shares of Commscope from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. ValuEngine raised shares of Commscope from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Finally, Northland Securities reaffirmed a “hold” rating and set a $33.00 price objective on shares of Commscope in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Commscope presently has a consensus rating of “Buy” and an average target price of $42.56.
TRADEMARK VIOLATION NOTICE: “Commscope Holding Company Inc (COMM) Shares Sold by Eagle Asset Management Inc.” was originally posted by Stock Observer and is owned by of Stock Observer. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.thestockobserver.com/2018/02/21/commscope-holding-company-inc-comm-shares-sold-by-eagle-asset-management-inc.html.
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).
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.