Northern Trust Corp grew its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 37.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,053,009 shares of the communications equipment provider’s stock after purchasing an additional 285,977 shares during the period. Northern Trust Corp owned approximately 0.55% of CommScope Holding worth $40,046,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of COMM. Comerica Bank purchased a new position in shares of CommScope Holding during the first quarter valued at about $218,000. UBS Asset Management Americas Inc. grew its position in shares of CommScope Holding by 25.8% during the first quarter. UBS Asset Management Americas Inc. now owns 112,453 shares of the communications equipment provider’s stock valued at $4,690,000 after purchasing an additional 23,073 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of CommScope Holding during the first quarter valued at about $438,000. Stifel Financial Corp grew its position in shares of CommScope Holding by 68.6% during the first quarter. Stifel Financial Corp now owns 37,110 shares of the communications equipment provider’s stock valued at $1,544,000 after purchasing an additional 15,100 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of CommScope Holding during the first quarter valued at about $223,000.
CommScope Holding Company, Inc. (NASDAQ COMM) opened at 32.19 on Friday. The company has a 50 day moving average of $33.10 and a 200-day moving average of $36.36. The company has a market cap of $6.21 billion, a P/E ratio of 26.87 and a beta of 1.18. CommScope Holding Company, Inc. has a one year low of $29.91 and a one year high of $42.75.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.05). CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue was down 10.2% on a year-over-year basis. On average, equities analysts expect that CommScope Holding Company, Inc. will post $2.22 earnings per share for the current fiscal year.
CommScope Holding announced that its board has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally 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. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective on shares of CommScope Holding in a research report on Friday, July 14th. BidaskClub upgraded CommScope Holding from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Barclays PLC lowered CommScope Holding from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $41.00 to $36.00 in a research report on Friday, August 4th. Finally, Northland Securities restated a “hold” rating and set a $28.00 price objective on shares of CommScope Holding in a research report on Thursday, August 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.20.
In other CommScope Holding news, Director Claudius E. Iv Watts acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average price of $32.87 per share, with a total value of $493,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy T. Yates acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by corporate insiders.
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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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