MRJ Capital Inc. Sells 1,000 Shares of Commscope Holding Company Inc (COMM)

MRJ Capital Inc. trimmed its holdings in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 51,100 shares of the communications equipment provider’s stock after selling 1,000 shares during the period. MRJ Capital Inc.’s holdings in Commscope were worth $1,110,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. United Services Automobile Association lifted its holdings in shares of Commscope by 1.8% during the fourth quarter. United Services Automobile Association now owns 34,687 shares of the communications equipment provider’s stock valued at $569,000 after purchasing an additional 613 shares during the last quarter. Boston Partners increased its position in shares of Commscope by 0.3% during the first quarter. Boston Partners now owns 204,428 shares of the communications equipment provider’s stock valued at $4,442,000 after acquiring an additional 665 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Commscope by 5.8% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,516 shares of the communications equipment provider’s stock valued at $271,000 after acquiring an additional 687 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Commscope by 11.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 750 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Commscope by 7.0% during the fourth quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock valued at $193,000 after acquiring an additional 774 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. ValuEngine raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Zacks Investment Research raised shares of Commscope from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Friday, March 29th. Finally, Rosenblatt Securities reaffirmed a “hold” rating and issued a $24.00 target price on shares of Commscope in a research report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.93.

In related news, Director Frank M. Drendel sold 280,143 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $23.61, for a total transaction of $6,614,176.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Bruce William Mcclelland purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $18.28 per share, for a total transaction of $73,120.00. The disclosure for this purchase can be found here. Insiders have sold a total of 367,460 shares of company stock worth $8,244,336 over the last quarter. 3.35% of the stock is currently owned by insiders.

Commscope stock opened at $18.20 on Tuesday. Commscope Holding Company Inc has a twelve month low of $15.09 and a twelve month high of $32.48. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.42 and a current ratio of 2.01. The stock has a market capitalization of $3.52 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.42 and a beta of 1.20.

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