Sterling Capital Management LLC decreased its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,287 shares of the communications equipment provider’s stock after selling 2,877 shares during the quarter. Sterling Capital Management LLC’s holdings in Commscope were worth $1,305,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in COMM. Krilogy Financial LLC grew its holdings in shares of Commscope by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 170 shares during the period. Bronfman E.L. Rothschild L.P. lifted its position in shares of Commscope by 76.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 2,064 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Commscope during the second quarter worth about $216,000. Nordea Investment Management AB acquired a new stake in Commscope in the second quarter valued at approximately $235,000. Finally, Taurus Asset Management LLC acquired a new stake in Commscope during the third quarter worth approximately $222,000.
Shares of Commscope Holding Company Inc (COMM) traded up $0.63 during midday trading on Thursday, reaching $38.84. The company’s stock had a trading volume of 2,253,500 shares, compared to its average volume of 1,470,000. The firm has a market capitalization of $7,410.00, a P/E ratio of 39.23, a PEG ratio of 2.49 and a beta of 1.20. Commscope Holding Company Inc has a 1 year low of $30.95 and a 1 year high of $42.75. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93.
COMM has been the topic of a number of analyst reports. BidaskClub downgraded Commscope from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 20th. Jefferies Group restated a “buy” rating and issued a $40.00 price target on shares of Commscope in a report on Wednesday, September 20th. Citigroup upped their price target on Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research raised Commscope from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, October 19th. Finally, ValuEngine raised Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.80.
In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $36.45, for a total value of $1,822,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank M. Drendel sold 5,284 shares of Commscope stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.01, for a total transaction of $200,844.84. The disclosure for this sale can be found here. Insiders sold 180,284 shares of company stock valued at $6,807,245 over the last quarter. 3.33% of the stock is owned by company insiders.
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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