Commscope Holding Company Inc (COMM) COO Buys $63,000.00 in Stock

Commscope Holding Company Inc (NASDAQ:COMM) COO Bruce William Mcclelland acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average cost of $18.00 per share, with a total value of $63,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Bruce William Mcclelland also recently made the following trade(s):

  • On Tuesday, May 14th, Bruce William Mcclelland acquired 4,000 shares of Commscope stock. The stock was acquired at an average cost of $18.28 per share, with a total value of $73,120.00.

NASDAQ COMM traded down $0.04 on Friday, reaching $17.45. 2,298,661 shares of the stock traded hands, compared to its average volume of 2,450,336. 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 firm has a market cap of $3.38 billion, a P/E ratio of 8.27, a PEG ratio of 0.41 and a beta of 1.20. Commscope Holding Company Inc has a 12 month low of $15.09 and a 12 month high of $32.48.

Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm 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 quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. On average, research analysts predict that Commscope Holding Company Inc will post 2.26 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlueMountain Capital Management LLC bought a new position in Commscope during the 1st quarter valued at $2,898,000. Maverick Capital Ltd. boosted its stake in Commscope by 3.0% during the 1st quarter. Maverick Capital Ltd. now owns 10,041,636 shares of the communications equipment provider’s stock valued at $218,205,000 after purchasing an additional 289,402 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Commscope by 3.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 2,795,050 shares of the communications equipment provider’s stock valued at $60,736,000 after purchasing an additional 98,200 shares in the last quarter. Man Group plc boosted its stake in Commscope by 95.4% during the 1st quarter. Man Group plc now owns 484,484 shares of the communications equipment provider’s stock valued at $10,528,000 after purchasing an additional 236,600 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Commscope by 200.6% during the 1st quarter. Advisors Asset Management Inc. now owns 6,382 shares of the communications equipment provider’s stock valued at $139,000 after purchasing an additional 4,259 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on COMM. BidaskClub raised Commscope from a “sell” rating to a “hold” rating in a report on Sunday, April 7th. Morgan Stanley set a $22.00 price objective on Commscope and gave the stock a “hold” rating in a report on Friday, February 22nd. Raymond James raised Commscope from an “outperform” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Wednesday, April 3rd. ValuEngine lowered Commscope from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. began coverage on Commscope in a report on Monday, April 22nd. They issued an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target 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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