First Trust Advisors LP trimmed its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 67.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,771 shares of the communications equipment provider’s stock after selling 434,034 shares during the period. First Trust Advisors LP owned about 0.11% of CommScope Holding worth $7,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its holdings in CommScope Holding by 6.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 160 shares in the last quarter. LS Investment Advisors LLC bought a new position in CommScope Holding during the 2nd quarter worth about $114,000. Krilogy Financial LLC grew its holdings in CommScope Holding by 5.7% during the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 170 shares in the last quarter. Financial Architects Inc grew its holdings in CommScope Holding by 9.8% during the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock worth $137,000 after acquiring an additional 322 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in CommScope Holding by 76.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after acquiring an additional 2,064 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.
Shares of CommScope Holding Company, Inc. (COMM) opened at $33.94 on Tuesday. The firm has a market cap of $6,445.85, a PE ratio of 15.64, a PEG ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.10. CommScope Holding Company, Inc. has a 1-year low of $30.95 and a 1-year high of $42.75.
CommScope Holding (NASDAQ:COMM) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. CommScope Holding’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. sell-side analysts predict that CommScope Holding Company, Inc. will post 2.01 earnings per share for the current fiscal year.
CommScope Holding announced that its board has approved a share repurchase program on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Several research analysts have issued reports on COMM shares. TheStreet upgraded shares of CommScope Holding from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 target price on shares of CommScope Holding in a report on Wednesday, September 20th. BidaskClub upgraded shares of CommScope Holding from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of CommScope Holding from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Thursday, October 19th. Finally, Citigroup Inc. increased their target price on shares of CommScope Holding from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.30.
CommScope Holding Profile
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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