Principal Financial Group Inc. cut its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 2.8% during the first quarter, Holdings Channel reports. The fund owned 37,089 shares of the communications equipment provider’s stock after selling 1,057 shares during the period. Principal Financial Group Inc.’s holdings in CommScope Holding were worth $1,548,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its position in shares of CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 439 shares during the last quarter. Financial Architects Inc boosted its position in shares of CommScope Holding 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. ProShare Advisors LLC purchased a new position in shares of CommScope Holding during the first quarter worth approximately $203,000. CAPROCK Group Inc. purchased a new position in shares of CommScope Holding during the first quarter worth approximately $203,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of CommScope Holding during the first quarter worth approximately $215,000. Institutional investors own 98.22% of the company’s stock.
Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) opened at 35.28 on Monday. The firm has a market capitalization of $6.81 billion, a P/E ratio of 28.52 and a beta of 1.19. The company has a 50-day moving average price of $37.27 and a 200-day moving average price of $38.38. CommScope Holding Company, Inc. has a 12-month low of $28.28 and a 12-month high of $42.75.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 36.96%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Equities analysts predict that CommScope Holding Company, Inc. will post $2.72 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Principal Financial Group Inc. Cuts Position in CommScope Holding Company, Inc. (NASDAQ:COMM)” was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://stocknewstimes.com/2017/07/24/principal-financial-group-inc-cuts-position-in-commscope-holding-company-inc-nasdaqcomm.html.
A number of brokerages have recently commented on COMM. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price target on shares of CommScope Holding in a research note on Friday, July 14th. Deutsche Bank AG increased their price target on CommScope Holding from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Zacks Investment Research cut CommScope Holding from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Nomura began coverage on CommScope Holding in a research note on Thursday, May 25th. They issued a “buy” rating and a $45.00 price target for the company. Finally, BidaskClub cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CommScope Holding presently has a consensus rating of “Buy” and an average price target of $44.20.
In other CommScope Holding news, Director Frank M. Drendel sold 15,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $42.18, for a total value of $632,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy T. Yates purchased 3,000 shares of the stock in a transaction on Monday, May 8th. The stock was acquired at an average cost of $35.34 per share, with a total value of $106,020.00. The disclosure for this purchase can be found here. Insiders sold 37,370 shares of company stock valued at $1,487,426 over the last three months. 3.33% of the stock is currently owned by insiders.
CommScope Holding 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.
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).
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.
