Assenagon Asset Management S.A. Has $15.97 Million Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Posted by on Jul 1st, 2023

Assenagon Asset Management S.A. decreased its stake in CommScope Holding Company, Inc. (NASDAQ:COMM – Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,507,637 shares of the communications equipment provider’s stock after selling 57,889 shares during the period. Assenagon Asset Management S.A. owned 1.20% of CommScope worth $15,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates boosted its position in shares of CommScope by 3.3% during the 1st quarter. Raymond James & Associates now owns 101,465 shares of the communications equipment provider’s stock valued at $646,000 after purchasing an additional 3,211 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of CommScope by 69.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 204,486 shares of the communications equipment provider’s stock valued at $1,503,000 after purchasing an additional 83,664 shares in the last quarter. Point72 Middle East FZE bought a new stake in shares of CommScope during the 4th quarter valued at about $235,000. Rayliant Investment Research bought a new stake in shares of CommScope during the 4th quarter valued at about $245,000. Finally, Virtu Financial LLC bought a new stake in shares of CommScope during the 4th quarter valued at about $116,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on COMM shares. TheStreet lowered CommScope from a “c-” rating to a “d” rating in a research report on Monday, March 20th. Northland Securities upgraded CommScope from a “market perform” rating to an “outperform” rating and set a $7.00 target price on the stock in a research report on Friday, May 5th. StockNews.com initiated coverage on CommScope in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on CommScope from $9.00 to $8.00 in a report on Friday, May 5th. Finally, Jefferies Financial Group lowered CommScope from a “buy” rating to a “hold” rating and cut their price target for the stock from $15.00 to $5.50 in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.44.

Insider Activity at CommScope

In other news, CEO Charles L. Treadway bought 56,155 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was acquired at an average cost of $4.45 per share, with a total value of $249,889.75. Following the completion of the transaction, the chief executive officer now directly owns 1,673,549 shares of the company’s stock, valued at approximately $7,447,293.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CommScope news, Director Claudius E. Iv Watts acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average price of $4.48 per share, with a total value of $44,800.00. Following the completion of the purchase, the director now owns 624,030 shares of the company’s stock, valued at $2,795,654.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles L. Treadway acquired 56,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were acquired at an average cost of $4.45 per share, with a total value of $249,889.75. Following the purchase, the chief executive officer now directly owns 1,673,549 shares of the company’s stock, valued at approximately $7,447,293.05. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 82,249 shares of company stock valued at $369,688. 2.60% of the stock is owned by insiders.

CommScope Stock Up 0.2 %

Shares of CommScope stock opened at $5.63 on Friday. The company has a market cap of $1.18 billion, a PE ratio of -0.98, a price-to-earnings-growth ratio of 0.19 and a beta of 1.87. The business has a 50 day moving average price of $4.60 and a 200-day moving average price of $6.31. CommScope Holding Company, Inc. has a 52 week low of $3.97 and a 52 week high of $13.73.

CommScope (NASDAQ:COMM – Free Report) last issued its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.15 billion. CommScope had a negative return on equity of 38.03% and a negative net margin of 12.87%. As a group, research analysts anticipate that CommScope Holding Company, Inc. will post 1.69 EPS for the current year.

CommScope Company Profile

(Free Report)

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. It operates through five segments: Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS); Access Network Solutions (ANS); and Home Networks (Home).

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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