Ameriprise Financial Inc. Sells 209,284 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Ameriprise Financial Inc. cut its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 75.8% during the first quarter, Holdings Channel reports. The fund owned 66,902 shares of the communications equipment provider’s stock after selling 209,284 shares during the period. Ameriprise Financial Inc.’s holdings in CommScope Holding Company were worth $2,791,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in COMM. Financial Architects Inc increased its stake in CommScope Holding Company by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 1,244 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in CommScope Holding Company during the first quarter worth about $203,000. ProShare Advisors LLC purchased a new stake in CommScope Holding Company during the first quarter worth about $203,000. Comerica Bank purchased a new stake in CommScope Holding Company during the first quarter worth about $218,000. Finally, World Asset Management Inc increased its stake in CommScope Holding Company by 21.2% in the first quarter. World Asset Management Inc now owns 7,305 shares of the communications equipment provider’s stock worth $305,000 after buying an additional 1,278 shares during the last quarter. 97.90% of the stock is currently owned by institutional investors and hedge funds.

CommScope Holding Company, Inc. (NASDAQ COMM) opened at 38.15 on Monday. CommScope Holding Company, Inc. has a 52-week low of $28.28 and a 52-week high of $42.75. The stock’s 50 day moving average price is $37.39 and its 200 day moving average price is $38.42. The company has a market cap of $7.36 billion, a P/E ratio of 30.84 and a beta of 1.19.

CommScope Holding Company (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. CommScope Holding Company had a return on equity of 36.96% and a net margin of 4.96%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect that CommScope Holding Company, Inc. will post $2.74 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was reported by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://www.wkrb13.com/markets/2284279/ameriprise-financial-inc-sells-209284-shares-of-commscope-holding-company-inc-nasdaqcomm.html.

A number of analysts have issued reports on the company. Deutsche Bank AG lifted their price objective on CommScope Holding Company from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of CommScope Holding Company in a research note on Friday, March 31st. Zacks Investment Research downgraded CommScope Holding Company from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Nomura assumed coverage on CommScope Holding Company in a research note on Thursday, May 25th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Instinet assumed coverage on CommScope Holding Company in a research note on Thursday, May 25th. They issued a “buy” rating and a $45.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. CommScope Holding Company currently has a consensus rating of “Buy” and a consensus price target of $44.20.

In other CommScope Holding Company news, Director Timothy T. Yates bought 3,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was bought at an average price of $35.34 per share, with a total value of $106,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Frank B. Wyatt II sold 255,900 shares of the firm’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $40.63, for a total value of $10,397,217.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,270 shares of company stock valued at $11,884,643. Insiders own 3.33% of the company’s stock.

About CommScope Holding Company

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.

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommScope Holding Company, Inc. (NASDAQ:COMM).

Institutional Ownership by Quarter for CommScope Holding Company (NASDAQ:COMM)

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2284279/ameriprise-financial-inc-sells-209284-shares-of-commscope-holding-company-inc-nasdaqcomm.html

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

 


Leave a Reply

 
© 2006-2017 WKRB News.