CommScope (NASDAQ:COMM) Shares Up 8.9%

CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) traded up 8.9% on Friday . The stock traded as high as $4.42 and last traded at $4.41. 1,421,549 shares were traded during mid-day trading, a decline of 51% from the average session volume of 2,922,176 shares. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Credit Suisse Group cut their price target on shares of CommScope from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Northland Securities raised CommScope from a “market perform” rating to an “outperform” rating and set a $7.00 price target on the stock in a report on Friday, May 5th. TheStreet cut shares of CommScope from a “c-” rating to a “d” rating in a research report on Monday, March 20th. StockNews.com assumed coverage on CommScope in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group cut CommScope from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $5.50 in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.17.

CommScope Trading Up 8.4 %

The firm’s fifty day moving average price is $5.11 and its 200 day moving average price is $7.03. The firm has a market capitalization of $920.98 million, a PE ratio of -0.75, a PEG ratio of 0.14 and a beta of 1.85.

CommScope (NASDAQ:COMM – Get Rating) last issued its earnings results on Thursday, February 23rd. The communications equipment provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. CommScope had a negative return on equity of 38.03% and a negative net margin of 12.87%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. As a group, research analysts expect that CommScope Holding Company, Inc. will post 1.71 EPS for the current year.

Insider Activity at CommScope

In related news, CEO Charles L. Treadway bought 56,155 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average cost of $4.45 per share, for a total transaction of $249,889.75. Following the completion of the acquisition, the chief executive officer now directly owns 1,673,549 shares in the company, valued at $7,447,293.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Charles L. Treadway acquired 56,155 shares of CommScope stock in a transaction dated Wednesday, May 10th. The stock was acquired at an average cost of $4.45 per share, for a total transaction of $249,889.75. Following the completion of the purchase, the chief executive officer now owns 1,673,549 shares of the company’s stock, valued at $7,447,293.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Claudius E. Iv Watts acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was acquired at an average price of $6.75 per share, with a total value of $67,500.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $67,500. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 92,249 shares of company stock valued at $437,188. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of CommScope

Several institutional investors and hedge funds have recently made changes to their positions in COMM. Newbridge Financial Services Group Inc. bought a new position in CommScope during the 4th quarter worth approximately $26,000. Lazard Asset Management LLC grew its stake in CommScope by 2,089.9% in the third quarter. Lazard Asset Management LLC now owns 3,460 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 3,302 shares during the period. Captrust Financial Advisors increased its holdings in shares of CommScope by 124.4% in the second quarter. Captrust Financial Advisors now owns 6,356 shares of the communications equipment provider’s stock worth $39,000 after acquiring an additional 3,524 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of CommScope in the first quarter worth about $51,000. Finally, Symphony Financial Ltd. Co. bought a new position in shares of CommScope during the 1st quarter valued at about $62,000. Institutional investors own 90.18% of the company’s stock.

CommScope Company Profile

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CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband, Home, Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.