Columbus Circle Investors boosted its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 17.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,830,656 shares of the communications equipment provider’s stock after buying an additional 271,509 shares during the period. Commscope Holding Company accounts for about 1.1% of Columbus Circle Investors’ investment portfolio, making the stock its 27th largest position. Columbus Circle Investors’ holdings in Commscope Holding Company were worth $76,357,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in COMM. Harris Associates L P bought a new position in Commscope Holding Company during the third quarter worth approximately $103,092,000. FMR LLC raised its position in Commscope Holding Company by 54.3% in the fourth quarter. FMR LLC now owns 9,607,272 shares of the communications equipment provider’s stock worth $357,390,000 after buying an additional 3,382,017 shares in the last quarter. BlackRock Group LTD raised its position in Commscope Holding Company by 1,226.6% in the third quarter. BlackRock Group LTD now owns 2,236,774 shares of the communications equipment provider’s stock worth $67,349,000 after buying an additional 2,068,170 shares in the last quarter. Norges Bank bought a new position in Commscope Holding Company during the fourth quarter worth approximately $62,592,000. Finally, Two Sigma Investments LP bought a new position in Commscope Holding Company during the fourth quarter worth approximately $59,985,000.
Shares of Commscope Holding Company Inc (NASDAQ:COMM) traded up 1.41% during mid-day trading on Thursday, reaching $41.60. 1,567,993 shares of the company were exchanged. Commscope Holding Company Inc has a 12 month low of $26.16 and a 12 month high of $42.34. The stock has a market capitalization of $8.07 billion, a P/E ratio of 36.81 and a beta of 1.28. The firm has a 50-day moving average price of $40.21 and a 200 day moving average price of $36.67.
Commscope Holding Company (NASDAQ:COMM) last released its quarterly earnings results on Thursday, February 23rd. The communications equipment provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The company earned $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Commscope Holding Company had a net margin of 1.91% and a return on equity of 35.24%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. Equities research analysts anticipate that Commscope Holding Company Inc will post $2.96 EPS for the current fiscal year.
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COMM has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Commscope Holding Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 23rd. Jefferies Group LLC raised their price objective on shares of Commscope Holding Company from $38.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 24th. Credit Suisse Group AG raised their price objective on shares of Commscope Holding Company from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Commscope Holding Company in a research note on Tuesday, January 17th. Finally, Barclays PLC reiterated a “buy” rating and set a $42.00 price objective on shares of Commscope Holding Company in a research note on Thursday, January 12th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.58.
In related news, Director Timothy T. Yates purchased 2,000 shares of Commscope Holding Company stock in a transaction dated Thursday, March 2nd. The stock was bought at an average price of $39.45 per share, for a total transaction of $78,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Frank B. Wyatt II sold 255,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $40.63, for a total transaction of $10,397,217.00. The disclosure for this sale can be found here. Insiders sold 424,884 shares of company stock valued at $17,137,544 in the last quarter. Corporate insiders own 4.09% of the company’s stock.
Commscope Holding Company 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.
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