Commscope Holding Company Inc (COMM) Director Frank M. Drendel Sells 80,800 Shares

Commscope Holding Company Inc (NASDAQ:COMM) Director Frank M. Drendel sold 80,800 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.35, for a total value of $1,482,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:COMM opened at $18.80 on Monday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.42 and a beta of 1.20. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 4.28. Commscope Holding Company Inc has a 12 month low of $15.09 and a 12 month high of $32.48.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Commscope had a return on equity of 23.46% and a net margin of 2.29%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. Research analysts predict that Commscope Holding Company Inc will post 2.26 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in shares of Commscope in the fourth quarter valued at about $72,000. Quantamental Technologies LLC acquired a new stake in shares of Commscope in the fourth quarter valued at about $76,000. Daiwa Securities Group Inc. grew its stake 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 buying an additional 750 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Commscope by 200.6% in the first quarter. Advisors Asset Management Inc. now owns 6,382 shares of the communications equipment provider’s stock valued at $139,000 after buying an additional 4,259 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Commscope by 24.9% in the first quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock valued at $179,000 after buying an additional 1,644 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Several equities analysts recently commented on the company. BidaskClub lowered Commscope from a “sell” rating to a “strong sell” rating in a research note on Saturday. JPMorgan Chase & Co. assumed coverage on Commscope in a research note on Monday, April 22nd. They issued an “overweight” rating for the company. ValuEngine lowered Commscope from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 13th. Deutsche Bank assumed coverage on Commscope in a research note on Friday, April 12th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Raymond James upgraded Commscope from an “outperform” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Commscope presently has a consensus rating of “Hold” and a consensus target price of $28.93.

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About Commscope

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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