Raymond James & Associates Invests $359,000 in Commscope Holding Company Inc (COMM)

Raymond James & Associates purchased a new stake in Commscope Holding Company Inc (NASDAQ:COMM) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,893 shares of the communications equipment provider’s stock, valued at approximately $359,000.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Commscope in the fourth quarter valued at about $72,000. Quantamental Technologies LLC bought a new position in shares of Commscope in the fourth quarter valued at about $76,000. Virtu Financial LLC bought a new position in shares of Commscope in the third quarter valued at about $205,000. Daiwa Securities Group Inc. raised its position in shares of Commscope by 11.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock valued at $124,000 after purchasing an additional 750 shares during the period. Finally, M&T Bank Corp raised its position in shares of Commscope by 7.0% in the fourth quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock valued at $193,000 after purchasing an additional 774 shares during the period. Institutional investors own 99.84% of the company’s stock.

A number of equities analysts recently commented on COMM shares. Credit Suisse Group raised shares of Commscope from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $20.00 to $34.00 in a research report on Tuesday, April 2nd. Morgan Stanley lowered their price target on shares of Commscope from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, January 7th. Raymond James raised shares of Commscope from an “outperform” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. started coverage on shares of Commscope in a research report on Monday, April 22nd. They set an “overweight” rating on the stock. Finally, BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Sunday, April 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $28.93.

In other news, SVP Peter U. Karlsson sold 6,517 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.63, for a total value of $147,479.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank M. Drendel sold 280,143 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $23.61, for a total transaction of $6,614,176.23. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by insiders.

NASDAQ:COMM traded up $0.38 during mid-day trading on Friday, hitting $24.25. 3,023,240 shares of the company’s stock were exchanged, compared to its average volume of 2,168,742. The company has a debt-to-equity ratio of 2.27, a current ratio of 2.72 and a quick ratio of 2.03. Commscope Holding Company Inc has a fifty-two week low of $15.09 and a fifty-two week high of $32.48. The company has a market cap of $4.69 billion, a PE ratio of 11.49, a P/E/G ratio of 2.47 and a beta of 1.20.

Commscope (NASDAQ:COMM) last posted its earnings results on Thursday, February 21st. The communications equipment provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. Commscope had a net margin of 3.07% and a return on equity of 23.55%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.47 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Equities research analysts expect that Commscope Holding Company Inc will post 2.52 EPS for the current year.

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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.

Further Reading: Call Option Volume

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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