Toronto Dominion Bank Has $473,000 Stake in Commscope Holding Company Inc (NASDAQ:COMM)

Toronto Dominion Bank trimmed its holdings in Commscope Holding Company Inc (NASDAQ:COMM) by 13.2% in the second quarter, Holdings Channel reports. The fund owned 30,028 shares of the communications equipment provider’s stock after selling 4,583 shares during the period. Toronto Dominion Bank’s holdings in Commscope were worth $473,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Commscope by 6.1% in the second quarter. JPMorgan Chase & Co. now owns 8,879,214 shares of the communications equipment provider’s stock valued at $133,987,000 after acquiring an additional 509,500 shares during the period. Russell Investments Group Ltd. grew its stake in Commscope by 26.9% in the second quarter. Russell Investments Group Ltd. now owns 4,922,583 shares of the communications equipment provider’s stock valued at $77,406,000 after acquiring an additional 1,043,254 shares during the period. Geode Capital Management LLC grew its stake in Commscope by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 2,092,326 shares of the communications equipment provider’s stock valued at $34,272,000 after acquiring an additional 153,499 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Commscope by 24.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock worth $29,187,000 after buying an additional 350,675 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Commscope by 367.4% during the first quarter. First Trust Advisors LP now owns 1,377,063 shares of the communications equipment provider’s stock worth $29,924,000 after buying an additional 1,082,465 shares during the period. 98.32% of the stock is owned by hedge funds and other institutional investors.

Shares of COMM stock traded up $0.06 on Thursday, hitting $12.17. 112,328 shares of the stock were exchanged, compared to its average volume of 5,051,089. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 7.23. The firm has a market capitalization of $2.35 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 0.44 and a beta of 1.50. The business has a 50-day moving average of $11.71 and a 200 day moving average of $17.65. Commscope Holding Company Inc has a fifty-two week low of $9.52 and a fifty-two week high of $30.93.

Commscope (NASDAQ:COMM) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.16. Commscope had a positive return on equity of 25.08% and a negative net margin of 5.03%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Commscope’s revenue was up 107.0% on a year-over-year basis. As a group, research analysts forecast that Commscope Holding Company Inc will post 1.87 EPS for the current fiscal year.

In other news, Director L William Krause bought 21,250 shares of the stock in a transaction dated Monday, September 9th. The shares were bought at an average price of $11.87 per share, for a total transaction of $252,237.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.25% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on COMM. Nomura reduced their price objective on Commscope from $24.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Evercore ISI began coverage on Commscope in a research report on Wednesday, September 11th. They set an “inline” rating and a $12.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $16.00 price objective on shares of Commscope in a research report on Friday, August 9th. Credit Suisse Group reduced their price objective on Commscope from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Raymond James cut Commscope from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $25.00 to $21.00 in a research report on Friday, June 14th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Commscope currently has an average rating of “Hold” and a consensus target price of $19.13.

Commscope Company 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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