Teacher Retirement System of Texas Purchases New Position in Commscope Holding Company Inc (COMM)

Teacher Retirement System of Texas purchased a new position in shares of Commscope Holding Company Inc (NASDAQ:COMM) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,395 shares of the communications equipment provider’s stock, valued at approximately $639,000.

A number of other institutional investors and hedge funds have also made changes to their positions in COMM. Meeder Asset Management Inc. bought a new position in shares of Commscope in the fourth quarter valued at approximately $72,000. Quantamental Technologies LLC bought a new position in shares of Commscope in the fourth quarter valued at approximately $76,000. Daiwa Securities Group Inc. raised 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 acquiring an additional 750 shares during the last quarter. Bank of Montreal Can raised 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 acquiring an additional 1,644 shares during the last quarter. Finally, M&T Bank Corp raised its stake 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 acquiring an additional 774 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

COMM stock traded down $0.23 during trading on Wednesday, hitting $18.13. The company had a trading volume of 23,222 shares, compared to its average volume of 2,459,172. The company has a debt-to-equity ratio of 4.28, a current ratio of 2.01 and a quick ratio of 1.42. Commscope Holding Company Inc has a 12 month low of $15.09 and a 12 month high of $32.48. The stock has a market capitalization of $3.55 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.42 and a beta of 1.20.

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

In other Commscope news, Director Frank M. Drendel sold 280,143 shares of Commscope stock in a transaction on Monday, March 4th. The shares were sold at an average price of $23.61, for a total transaction of $6,614,176.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.35, for a total transaction of $1,482,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 367,460 shares of company stock valued at $8,244,336 in the last ninety days. Company insiders own 3.35% of the company’s stock.

COMM has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Commscope from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. ValuEngine upgraded shares of Commscope from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. Rosenblatt Securities restated a “hold” rating and issued a $24.00 price objective on shares of Commscope in a research report on Friday, February 22nd. Morgan Stanley set a $22.00 price objective on shares of Commscope and gave the stock a “hold” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research upgraded shares of Commscope from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Friday, March 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average 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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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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