Profund Advisors LLC boosted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,542 shares of the communications equipment provider’s stock after purchasing an additional 10,497 shares during the quarter. Profund Advisors LLC’s holdings in CommScope were worth $474,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in CommScope by 4.9% in the third quarter. Public Employees Retirement System of Ohio now owns 25,878 shares of the communications equipment provider’s stock worth $238,000 after purchasing an additional 1,213 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of CommScope by 2.0% during the 2nd quarter. First Republic Investment Management Inc. now owns 66,552 shares of the communications equipment provider’s stock worth $407,000 after acquiring an additional 1,331 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of CommScope by 30.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,111 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 1,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CommScope by 8.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,534 shares of the communications equipment provider’s stock worth $202,000 after acquiring an additional 2,154 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of CommScope by 8.5% during the 4th quarter. Comerica Bank now owns 29,013 shares of the communications equipment provider’s stock worth $264,000 after acquiring an additional 2,280 shares during the last quarter. Hedge funds and other institutional investors own 90.18% of the company’s stock.
Insider Buying and Selling
In other news, Director Claudius E. Iv Watts purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $6.75 per share, with a total value of $67,500.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $67,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.
CommScope Stock Down 0.2 %
CommScope (NASDAQ:COMM – Get Rating) last posted its earnings results on Thursday, February 23rd. The communications equipment provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. CommScope had a negative net margin of 14.11% and a negative return on equity of 51.71%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that CommScope Holding Company, Inc. will post 1.77 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on COMM. StockNews.com began coverage on shares of CommScope in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CommScope from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, April 3rd. Bank of America upgraded shares of CommScope from an “underperform” rating to a “buy” rating and lifted their price target for the company from $8.00 to $15.00 in a report on Thursday, January 12th. TheStreet downgraded shares of CommScope from a “c-” rating to a “d” rating in a report on Monday, March 20th. Finally, Northland Securities reduced their price target on shares of CommScope from $9.00 to $6.00 in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, CommScope presently has an average rating of “Hold” and an average price target of $9.39.
About CommScope
CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband, Home, Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.
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