CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Sold by Great Lakes Advisors LLC

Posted by Defense World Staff on Aug 23rd, 2023

Great Lakes Advisors LLC trimmed its stake in CommScope Holding Company, Inc. (NASDAQ:COMM – Free Report) by 96.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,403 shares of the communications equipment provider’s stock after selling 1,257,328 shares during the period. Great Lakes Advisors LLC’s holdings in CommScope were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of CommScope by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 27,002,559 shares of the communications equipment provider’s stock valued at $212,781,000 after buying an additional 2,790,362 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of CommScope by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 18,146,557 shares of the communications equipment provider’s stock valued at $142,995,000 after purchasing an additional 195,374 shares during the period. BlackRock Inc. boosted its position in shares of CommScope by 22.1% in the 1st quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock valued at $111,616,000 after purchasing an additional 2,560,861 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of CommScope by 9.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,871,351 shares of the communications equipment provider’s stock valued at $62,026,000 after purchasing an additional 710,698 shares during the period. Finally, Weiss Multi Strategy Advisers LLC boosted its position in shares of CommScope by 80.0% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 6,604,444 shares of the communications equipment provider’s stock valued at $52,043,000 after purchasing an additional 2,934,775 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CommScope

In related news, Director Claudius E. Iv Watts acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $3.70 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 696,030 shares in the company, valued at $2,575,311. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Claudius E. Iv Watts purchased 10,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now directly owns 696,030 shares in the company, valued at approximately $2,575,311. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles L. Treadway acquired 27,400 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $3.65 per share, for a total transaction of $100,010.00. Following the completion of the transaction, the chief executive officer now directly owns 2,125,771 shares in the company, valued at $7,759,064.15. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

CommScope Stock Performance

NASDAQ:COMM opened at $3.57 on Wednesday. CommScope Holding Company, Inc. has a 1 year low of $3.04 and a 1 year high of $13.73. The stock has a fifty day moving average price of $4.75 and a two-hundred day moving average price of $5.44. The stock has a market capitalization of $756.55 million, a price-to-earnings ratio of -0.60, a PEG ratio of 0.32 and a beta of 1.92.

Analyst Ratings Changes

COMM has been the subject of several research reports. Credit Suisse Group downgraded shares of CommScope from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $5.10 in a research report on Monday, July 24th. Northland Securities reduced their price target on shares of CommScope from $7.00 to $6.00 in a research report on Friday, August 4th. StockNews.com began coverage on CommScope in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut CommScope from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.00 to $6.00 in a research report on Tuesday, July 18th. Finally, Morgan Stanley dropped their target price on CommScope from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.44.

Get Our Latest Analysis on CommScope

CommScope 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).