Stifel Financial Corp Has $862,000 Stake in Commscope Holding Company Inc (NASDAQ:COMM)

Stifel Financial Corp cut its holdings in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 26.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,814 shares of the communications equipment provider’s stock after selling 9,400 shares during the period. Stifel Financial Corp’s holdings in Commscope were worth $862,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in COMM. Capital Research Global Investors lifted its stake in Commscope by 478.2% during the second quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after purchasing an additional 11,994,126 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Commscope during the second quarter valued at approximately $128,505,000. JPMorgan Chase & Co. lifted its position in shares of Commscope by 54.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after acquiring an additional 2,930,632 shares in the last quarter. BlackRock Inc. lifted its position in shares of Commscope by 19.0% in the 2nd quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after acquiring an additional 2,438,894 shares in the last quarter. Finally, Harris Associates L P lifted its position in shares of Commscope by 58.6% in the 2nd quarter. Harris Associates L P now owns 6,390,730 shares of the communications equipment provider’s stock valued at $243,039,000 after acquiring an additional 2,361,663 shares in the last quarter.

In other news, Director Frank M. Drendel sold 15,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total transaction of $570,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total transaction of $1,933,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,284 shares of company stock valued at $6,807,245. Insiders own 3.33% of the company’s stock.

Several equities research analysts recently commented on the stock. Citigroup upped their price target on shares of Commscope to $45.00 and gave the company a “buy” rating in a research report on Thursday. BidaskClub downgraded shares of Commscope from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. ValuEngine upgraded shares of Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Northland Securities restated a “hold” rating on shares of Commscope in a research report on Friday, November 10th. Finally, Zacks Investment Research downgraded shares of Commscope from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.80.

Shares of Commscope Holding Company Inc (NASDAQ:COMM) opened at $38.84 on Friday. Commscope Holding Company Inc has a 12-month low of $30.95 and a 12-month high of $42.75. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.10. The stock has a market cap of $7,410.00, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20.

Commscope (NASDAQ:COMM) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was down 12.8% compared to the same quarter last year. equities analysts expect that Commscope Holding Company Inc will post 2.01 earnings per share for the current year.

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About Commscope

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.

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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