Commscope Holding Company Inc (NASDAQ:COMM) Position Increased by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. increased its stake in Commscope Holding Company Inc (NASDAQ:COMM) by 42.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 583,750 shares of the communications equipment provider’s stock after purchasing an additional 173,620 shares during the period. Coronation Fund Managers Ltd. owned 0.30% of Commscope worth $9,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Commscope by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 2,092,326 shares of the communications equipment provider’s stock worth $34,272,000 after purchasing an additional 153,499 shares during the last quarter. Norges Bank bought a new stake in shares of Commscope in the 4th quarter worth approximately $29,617,000. Dimensional Fund Advisors LP lifted its holdings in shares of Commscope by 24.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock worth $29,187,000 after purchasing an additional 350,675 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Commscope by 367.4% in the 1st quarter. First Trust Advisors LP now owns 1,377,063 shares of the communications equipment provider’s stock worth $29,924,000 after purchasing an additional 1,082,465 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Commscope by 5.1% in the 1st quarter. Swiss National Bank now owns 780,500 shares of the communications equipment provider’s stock worth $16,960,000 after purchasing an additional 37,700 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Commscope stock traded down $0.32 during mid-day trading on Monday, hitting $13.41. 7,616 shares of the company’s stock traded hands, compared to its average volume of 3,029,334. Commscope Holding Company Inc has a one year low of $13.38 and a one year high of $31.98. 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 company has a 50 day moving average price of $15.34. The firm has a market cap of $2.57 billion, a P/E ratio of 6.35, a PEG ratio of 0.31 and a beta of 1.44.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, May 9th. The communications equipment provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. Commscope had a return on equity of 23.46% and a net margin of 2.29%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts forecast that Commscope Holding Company Inc will post 2.24 earnings per share for the current year.

COMM has been the topic of several recent analyst reports. BidaskClub downgraded Commscope from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Raymond James downgraded Commscope from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $25.00 to $21.00 in a research note on Friday, June 14th. Zacks Investment Research downgraded Commscope from a “strong-buy” rating to a “sell” rating and set a $17.00 target price on the stock. in a research note on Tuesday, June 4th. Rosenblatt Securities raised Commscope from a “neutral” rating to a “buy” rating and cut their target price for the company from $24.00 to $22.00 in a research note on Wednesday, June 12th. Finally, Morgan Stanley raised Commscope from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.62.

In other news, Director Frank M. Drendel sold 80,800 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.35, for a total value of $1,482,680.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Bruce William Mcclelland acquired 3,500 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $63,000.00. The disclosure for this purchase can be found here. 3.25% of the stock is currently owned by insiders.

Commscope 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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