Commscope Holding Company Inc (COMM) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its holdings in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 28.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,859 shares of the communications equipment provider’s stock after selling 11,263 shares during the period. Sterling Capital Management LLC’s holdings in Commscope were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Blue Harbour Group L.P. boosted its holdings in Commscope by 23.3% in the 2nd quarter. Blue Harbour Group L.P. now owns 9,538,090 shares of the communications equipment provider’s stock valued at $278,560,000 after purchasing an additional 1,800,000 shares during the last quarter. FMR LLC boosted its stake in shares of Commscope by 14.2% during the 2nd quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock worth $275,208,000 after purchasing an additional 1,168,575 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Commscope by 9.4% during the 2nd quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock worth $300,874,000 after purchasing an additional 884,773 shares during the last quarter. Tobam acquired a new stake in shares of Commscope in the second quarter worth approximately $14,555,000. Finally, Makaira Partners LLC boosted its position in shares of Commscope by 33.0% in the second quarter. Makaira Partners LLC now owns 1,821,309 shares of the communications equipment provider’s stock worth $53,191,000 after acquiring an additional 451,611 shares during the last quarter.

COMM has been the topic of several research reports. Rosenblatt Securities restated a “hold” rating and issued a $32.00 price target on shares of Commscope in a report on Sunday, August 5th. Jefferies Financial Group downgraded shares of Commscope from a “buy” rating to a “hold” rating and reduced their price target for the company from $35.00 to $30.50 in a report on Monday, August 6th. BidaskClub downgraded shares of Commscope from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of Commscope from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Finally, ValuEngine downgraded Commscope from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.02.

COMM stock traded up $0.27 during trading on Monday, reaching $18.37. 2,205,300 shares of the stock were exchanged, compared to its average volume of 1,994,479. The company has a market cap of $3.48 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18. Commscope Holding Company Inc has a twelve month low of $17.27 and a twelve month high of $41.60. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.80 and a current ratio of 2.44.

Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Commscope had a return on equity of 23.68% and a net margin of 4.69%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. Equities analysts predict that Commscope Holding Company Inc will post 1.96 earnings per share for the current year.

In other news, Director Claudius E. Iv Watts bought 25,000 shares of the stock in a transaction on Tuesday, November 13th. The stock was bought at an average cost of $19.00 per share, for a total transaction of $475,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander W. Pease bought 40,000 shares of Commscope stock in a transaction that occurred on Thursday, November 15th. The shares were acquired at an average cost of $18.70 per share, with a total value of $748,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 76,500 shares of company stock valued at $1,442,400. 3.35% of the stock is owned by corporate insiders.

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Commscope Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

See Also: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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