Shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.38 and last traded at $4.39, with a volume of 536429 shares trading hands. The stock had previously closed at $4.63.
Analyst Ratings Changes
COMM has been the subject of several analyst reports. StockNews.com initiated coverage on CommScope in a report on Thursday, March 16th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on CommScope from $9.00 to $8.00 in a report on Friday, May 5th. TheStreet cut CommScope from a “c-” rating to a “d” rating in a report on Monday, March 20th. Jefferies Financial Group cut CommScope from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $5.50 in a report on Monday, April 17th. Finally, Northland Securities raised CommScope from a “market perform” rating to an “outperform” rating and set a $7.00 price target for the company in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CommScope has a consensus rating of “Hold” and an average price target of $9.17.
CommScope Price Performance
The business has a fifty day simple moving average of $5.73 and a 200 day simple moving average of $7.62. The firm has a market cap of $899.81 million, a price-to-earnings ratio of -0.74, a PEG ratio of 0.18 and a beta of 1.85.
Insider Activity
In related news, SVP Justin C. Choi purchased 16,094 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was acquired at an average cost of $4.66 per share, for a total transaction of $74,998.04. Following the completion of the transaction, the senior vice president now directly owns 246,902 shares of the company’s stock, valued at $1,150,563.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Claudius E. Iv Watts purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $4.48 per share, for a total transaction of $44,800.00. Following the completion of the transaction, the director now directly owns 624,030 shares of the company’s stock, valued at $2,795,654.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Justin C. Choi acquired 16,094 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average price of $4.66 per share, with a total value of $74,998.04. Following the completion of the transaction, the senior vice president now directly owns 246,902 shares of the company’s stock, valued at approximately $1,150,563.32. The disclosure for this purchase can be found here. Insiders purchased 36,094 shares of company stock worth $187,298 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Credit Suisse AG grew its position in CommScope by 4.4% in the first quarter. Credit Suisse AG now owns 269,269 shares of the communications equipment provider’s stock worth $1,715,000 after acquiring an additional 11,467 shares during the period. Staley Capital Advisers Inc. grew its position in CommScope by 1.6% in the first quarter. Staley Capital Advisers Inc. now owns 1,002,700 shares of the communications equipment provider’s stock worth $6,387,000 after acquiring an additional 15,800 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in CommScope by 39.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,493 shares of the communications equipment provider’s stock worth $296,000 after acquiring an additional 13,093 shares during the period. Highland Peak Capital LLC grew its position in CommScope by 36.9% in the first quarter. Highland Peak Capital LLC now owns 1,362,723 shares of the communications equipment provider’s stock worth $8,681,000 after acquiring an additional 367,613 shares during the period. Finally, Boston Partners lifted its stake in CommScope by 15.4% during the first quarter. Boston Partners now owns 5,175,013 shares of the communications equipment provider’s stock worth $31,874,000 after purchasing an additional 692,222 shares in the last quarter. 90.18% of the stock is currently owned by hedge funds and other institutional investors.
CommScope Company Profile
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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