Commscope Holding Company Inc (COMM) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in Commscope Holding Company Inc (NASDAQ:COMM) by 65.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,927 shares of the communications equipment provider’s stock after selling 29,518 shares during the quarter. Shell Asset Management Co.’s holdings in Commscope were worth $490,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of Commscope by 12.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,944 shares of the communications equipment provider’s stock valued at $495,000 after purchasing an additional 1,924 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Commscope by 3.1% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 99,090 shares of the communications equipment provider’s stock valued at $3,048,000 after purchasing an additional 2,960 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Commscope by 1.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 341,959 shares of the communications equipment provider’s stock valued at $9,986,000 after purchasing an additional 3,219 shares during the last quarter. Yorktown Management & Research Co Inc raised its position in shares of Commscope by 19.6% in the 2nd quarter. Yorktown Management & Research Co Inc now owns 22,000 shares of the communications equipment provider’s stock valued at $643,000 after purchasing an additional 3,600 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Commscope by 7.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 51,501 shares of the communications equipment provider’s stock valued at $1,505,000 after purchasing an additional 3,726 shares during the last quarter.

COMM has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Commscope from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 15th. BidaskClub raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine lowered shares of Commscope from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Jefferies Financial Group raised shares of Commscope from a “hold” rating to a “buy” rating and reduced their price target for the stock from $30.50 to $28.50 in a research report on Monday, November 26th. Finally, Cross Research raised shares of Commscope from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Commscope currently has a consensus rating of “Hold” and a consensus target price of $32.02.

In other news, CFO Alexander W. Pease acquired 40,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were acquired at an average price of $18.70 per share, with a total value of $748,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert W. Granow acquired 4,000 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average cost of $19.60 per share, for a total transaction of $78,400.00. The disclosure for this purchase can be found here. Insiders have bought a total of 76,500 shares of company stock worth $1,442,400 in the last ninety days. Corporate insiders own 3.33% of the company’s stock.

COMM opened at $16.93 on Friday. Commscope Holding Company Inc has a 12-month low of $16.82 and a 12-month high of $41.60. The company has a quick ratio of 1.80, a current ratio of 2.44 and a debt-to-equity ratio of 2.27. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 2.80 and a beta of 1.16.

Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Commscope had a return on equity of 23.68% and a net margin of 4.69%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. Analysts expect that Commscope Holding Company Inc will post 1.96 EPS for the current year.

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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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