SG Americas Securities LLC Grows Stock Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

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SG Americas Securities LLC grew its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) by 79.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,751 shares of the communications equipment provider’s stock after purchasing an additional 23,840 shares during the quarter. SG Americas Securities LLC’s holdings in CommScope were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FPR Partners LLC increased its holdings in CommScope by 12.3% in the 4th quarter. FPR Partners LLC now owns 19,473,018 shares of the communications equipment provider’s stock worth $214,982,000 after acquiring an additional 2,140,000 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in CommScope by 43.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,160,653 shares of the communications equipment provider’s stock worth $79,054,000 after acquiring an additional 2,175,706 shares in the last quarter. First Trust Advisors LP increased its holdings in CommScope by 6.9% in the 4th quarter. First Trust Advisors LP now owns 5,334,821 shares of the communications equipment provider’s stock worth $58,896,000 after acquiring an additional 345,382 shares in the last quarter. Diameter Capital Partners LP purchased a new stake in CommScope in the 4th quarter worth approximately $41,352,000. Finally, Weiss Multi Strategy Advisers LLC increased its holdings in CommScope by 28.2% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 3,669,669 shares of the communications equipment provider’s stock worth $40,513,000 after acquiring an additional 808,175 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

CommScope Stock Performance

NASDAQ COMM opened at $9.70 on Friday. The company has a market capitalization of $2.01 billion, a P/E ratio of -3.53, a P/E/G ratio of 0.26 and a beta of 1.87. CommScope Holding Company, Inc. has a one year low of $5.56 and a one year high of $16.74. The stock has a 50 day moving average price of $7.39 and a 200-day moving average price of $7.75.

CommScope (NASDAQ:COMMGet Rating) last posted its earnings results on Thursday, August 4th. The communications equipment provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.12. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, equities analysts predict that CommScope Holding Company, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles L. Treadway purchased 59,927 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was bought at an average cost of $8.34 per share, for a total transaction of $499,791.18. Following the completion of the transaction, the chief executive officer now directly owns 1,212,302 shares in the company, valued at $10,110,598.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles L. Treadway purchased 59,927 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was bought at an average cost of $8.34 per share, for a total transaction of $499,791.18. Following the completion of the transaction, the chief executive officer now directly owns 1,212,302 shares in the company, valued at $10,110,598.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle David Lorentzen purchased 17,887 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was bought at an average price of $8.11 per share, with a total value of $145,063.57. Following the completion of the transaction, the chief financial officer now owns 209,398 shares of the company’s stock, valued at $1,698,217.78. The disclosure for this purchase can be found here. Insiders purchased a total of 87,814 shares of company stock worth $714,555 over the last three months. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COMM has been the subject of several analyst reports. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, April 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI cut their price objective on shares of CommScope from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Tuesday, June 28th. Morgan Stanley lowered shares of CommScope from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $9.00 to $11.00 in a report on Friday. Finally, Citigroup increased their price objective on shares of CommScope from $6.00 to $7.00 and gave the company a “sell” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.67.

About CommScope

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CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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