Oppenheimer Asset Management Inc. Trims Position in Commscope Holding Company Inc (COMM)

Oppenheimer Asset Management Inc. decreased its holdings in Commscope Holding Company Inc (NASDAQ:COMM) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,937 shares of the communications equipment provider’s stock after selling 436 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Commscope were worth $151,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Commscope by 2.5% in the 4th quarter. Rhumbline Advisers now owns 172,645 shares of the communications equipment provider’s stock valued at $2,830,000 after buying an additional 4,221 shares during the period. JPMorgan Chase & Co. increased its stake in Commscope by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,641,277 shares of the communications equipment provider’s stock valued at $327,324,000 after buying an additional 303,348 shares during the period. First Trust Advisors LP increased its stake in Commscope by 11.9% in the 4th quarter. First Trust Advisors LP now owns 294,598 shares of the communications equipment provider’s stock valued at $4,828,000 after buying an additional 31,316 shares during the period. AQR Capital Management LLC increased its stake in Commscope by 15.1% in the 3rd quarter. AQR Capital Management LLC now owns 20,385 shares of the communications equipment provider’s stock valued at $627,000 after buying an additional 2,674 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Commscope by 190.9% in the 4th quarter. Gotham Asset Management LLC now owns 900,609 shares of the communications equipment provider’s stock valued at $14,761,000 after buying an additional 591,068 shares during the period. Hedge funds and other institutional investors own 99.45% of the company’s stock.

COMM has been the topic of several recent research reports. Zacks Investment Research raised shares of Commscope from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Friday, March 29th. Deutsche Bank started coverage on shares of Commscope in a research note on Friday, April 12th. They issued a “buy” rating and a $40.00 price objective on the stock. BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Morgan Stanley set a $22.00 price target on shares of Commscope and gave the stock a “hold” rating in a research note on Friday, February 22nd. Finally, Rosenblatt Securities reaffirmed a “hold” rating and set a $24.00 price target on shares of Commscope in a research note on Friday, February 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Commscope has an average rating of “Hold” and an average target price of $28.93.

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

NASDAQ:COMM opened at $19.09 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 2.03 and a current ratio of 2.72. Commscope Holding Company Inc has a fifty-two week low of $15.09 and a fifty-two week high of $32.48. The firm has a market cap of $3.65 billion, a PE ratio of 9.05, a P/E/G ratio of 1.93 and a beta of 1.20.

Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. Commscope had a net margin of 2.29% and a return on equity of 23.48%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts expect that Commscope Holding Company Inc will post 2.45 earnings per share for the current fiscal year.

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Commscope Company 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.

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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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