Paloma Partners Management Co acquired a new stake in Commscope Holding Company Inc (NASDAQ:COMM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,744 shares of the communications equipment provider’s stock, valued at approximately $1,087,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in COMM. Lateef Investment Management L.P. purchased a new position in shares of Commscope in the 4th quarter valued at $24,323,000. Raymond James & Associates grew its position in shares of Commscope by 991.4% in the 4th quarter. Raymond James & Associates now owns 136,683 shares of the communications equipment provider’s stock valued at $5,171,000 after buying an additional 124,159 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Commscope by 14.4% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 86,437 shares of the communications equipment provider’s stock valued at $3,270,000 after buying an additional 10,908 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Commscope in the 4th quarter valued at $791,000. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Commscope in the 4th quarter valued at $911,000.
A number of research analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating and issued a $47.00 target price (up from $45.00) on shares of Commscope in a research report on Friday, March 9th. BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. ValuEngine raised shares of Commscope from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research downgraded shares of Commscope from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Northland Securities reissued a “hold” rating and set a $33.00 price objective on shares of Commscope in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $42.78.
Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Commscope had a net margin of 4.25% and a return on equity of 26.02%. Commscope’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. equities analysts anticipate that Commscope Holding Company Inc will post 2.45 earnings per share for the current fiscal year.
In other news, SVP Philip Martin Armstrong, Jr. sold 10,000 shares of Commscope stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $39.02, for a total value of $390,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank M. Drendel sold 15,000 shares of Commscope stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total transaction of $570,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,575 shares of company stock worth $6,008,282. Insiders own 3.33% of the company’s stock.
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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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