Short Interest in Commscope Holding Company Inc (COMM) Drops By 29.5%

Commscope Holding Company Inc (NASDAQ:COMM) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 6,860,915 shares, a decline of 29.5% from the January 12th total of 9,736,110 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 2,030,510 shares, the short-interest ratio is currently 3.4 days.

COMM has been the topic of a number of recent analyst reports. Northland Securities set a $28.00 price target on shares of Commscope and gave the company a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Commscope from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, October 19th. Citigroup boosted their price target on shares of Commscope from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. ValuEngine lowered shares of Commscope from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. Finally, BidaskClub upgraded shares of Commscope from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Commscope has an average rating of “Buy” and a consensus price target of $40.80.

In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $36.45, for a total value of $1,822,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank M. Drendel sold 5,284 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.01, for a total transaction of $200,844.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,284 shares of company stock worth $6,807,245. 3.33% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Krilogy Financial LLC lifted its position in shares of Commscope by 5.7% during the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 170 shares in the last quarter. American International Group Inc. acquired a new position in shares of Commscope during the fourth quarter worth approximately $161,000. Taurus Asset Management LLC acquired a new position in shares of Commscope during the third quarter worth approximately $222,000. Parametrica Management Ltd acquired a new position in shares of Commscope during the fourth quarter worth approximately $276,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of Commscope during the second quarter worth approximately $284,000.

Commscope (COMM) opened at $37.30 on Tuesday. Commscope has a 12-month low of $30.95 and a 12-month high of $42.75. The stock has a market cap of $7,070.00, a P/E ratio of 37.68, a PEG ratio of 2.34 and a beta of 1.13. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78.

ILLEGAL ACTIVITY NOTICE: “Short Interest in Commscope Holding Company Inc (COMM) Drops By 29.5%” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of international copyright & trademark laws. The original version of this piece of content can be accessed at https://www.com-unik.info/2018/02/13/short-interest-in-commscope-holding-company-inc-comm-drops-by-29-5.html.

Commscope Company Profile

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit