BlackRock Fund Advisors reduced its position in shares of CommScope Holding Co. (NASDAQ:COMM) by 14.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,113,157 shares of the company’s stock after selling 181,887 shares during the period. BlackRock Fund Advisors owned about 0.58% of CommScope Holding worth $31,079,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of CommScope Holding by 220.0% in the first quarter. BlackRock Inc. now owns 14,404 shares of the company’s stock valued at $402,000 after buying an additional 9,903 shares during the last quarter. Counsel Portfolio Services Inc. bought a new position in CommScope Holding during the fourth quarter worth $1,125,000. State Board of Administration of Florida Retirement System raised its position in CommScope Holding by 7.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 76,510 shares of the company’s stock worth $1,981,000 after buying an additional 5,549 shares during the period. Rhumbline Advisers raised its position in CommScope Holding by 4.7% in the fourth quarter. Rhumbline Advisers now owns 81,602 shares of the company’s stock worth $2,113,000 after buying an additional 3,675 shares during the period. Finally, BlackRock Group LTD raised its position in CommScope Holding by 29.6% in the first quarter. BlackRock Group LTD now owns 100,780 shares of the company’s stock worth $2,814,000 after buying an additional 23,036 shares during the period.
CommScope Holding Co. (NASDAQ:COMM) traded down 5.78% during trading on Thursday, reaching $29.98. The company had a trading volume of 5,469,502 shares. The company’s market capitalization is $5.75 billion. The firm’s 50 day moving average is $31.42 and its 200-day moving average is $27.74. CommScope Holding Co. has a 12 month low of $19.37 and a 12 month high of $34.12.
A number of research firms have weighed in on COMM. BTIG Research began coverage on CommScope Holding in a research note on Friday, June 17th. They set a “buy” rating and a $41.00 price objective on the stock. Credit Agricole SA began coverage on CommScope Holding in a research note on Wednesday, June 15th. They set a “buy” rating and a $40.00 price objective on the stock. Deutsche Bank AG reissued a “buy” rating on shares of CommScope Holding in a research note on Wednesday, June 15th. Drexel Hamilton reissued a “buy” rating and set a $38.00 price objective on shares of CommScope Holding in a research note on Friday, April 29th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of CommScope Holding in a research note on Saturday, April 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.92.
In other CommScope Holding news, CEO Marvin S. Edwards, Jr. sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $32.15, for a total transaction of $3,215,000.00. Following the completion of the transaction, the chief executive officer now owns 170,794 shares of the company’s stock, valued at $5,491,027.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joanne Townsend sold 117,962 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $30.38, for a total value of $3,583,685.56. Following the transaction, the senior vice president now directly owns 120,736 shares of the company’s stock, valued at approximately $3,667,959.68. The disclosure for this sale can be found here.
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
