Shell Asset Management Co. Decreases Holdings in Commscope Holding Company Inc (COMM)

Share on StockTwits

Shell Asset Management Co. lessened its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 65.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,927 shares of the communications equipment provider’s stock after selling 29,518 shares during the quarter. Shell Asset Management Co.’s holdings in Commscope were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Commscope by 31.8% in the first quarter. Principal Financial Group Inc. now owns 29,987 shares of the communications equipment provider’s stock valued at $1,199,000 after acquiring an additional 7,235 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Commscope by 12.8% in the second quarter. Janney Montgomery Scott LLC now owns 16,944 shares of the communications equipment provider’s stock valued at $495,000 after acquiring an additional 1,924 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Commscope by 4.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 604,781 shares of the communications equipment provider’s stock valued at $17,663,000 after acquiring an additional 26,696 shares during the last quarter. First Trust Advisors LP increased its stake in Commscope by 770.0% in the second quarter. First Trust Advisors LP now owns 255,986 shares of the communications equipment provider’s stock valued at $7,476,000 after acquiring an additional 226,564 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Commscope by 657.0% in the second quarter. Victory Capital Management Inc. now owns 460,499 shares of the communications equipment provider’s stock valued at $13,449,000 after acquiring an additional 399,670 shares during the last quarter.

NASDAQ COMM opened at $16.93 on Friday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 2.80 and a beta of 1.16. Commscope Holding Company Inc has a fifty-two week low of $16.82 and a fifty-two week high of $41.60. The company has a current ratio of 2.44, a quick ratio of 1.80 and a debt-to-equity ratio of 2.27.

Commscope (NASDAQ:COMM) last posted its earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.22 billion. Commscope had a return on equity of 23.68% and a net margin of 4.69%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. As a group, sell-side analysts predict that Commscope Holding Company Inc will post 1.96 earnings per share for the current year.

In other Commscope news, SVP Robert W. Granow acquired 4,000 shares of Commscope stock in a transaction that occurred on Monday, November 12th. The shares were bought at an average price of $19.60 per share, with a total value of $78,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Frank B. Wyatt II acquired 7,500 shares of Commscope stock in a transaction that occurred on Wednesday, November 14th. The stock was acquired at an average cost of $18.80 per share, for a total transaction of $141,000.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 76,500 shares of company stock worth $1,442,400. 3.33% of the stock is currently owned by insiders.

COMM has been the topic of a number of recent analyst reports. Cross Research raised shares of Commscope from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Jefferies Financial Group raised shares of Commscope from a “hold” rating to a “buy” rating and decreased their price objective for the company from $30.50 to $28.50 in a research note on Monday, November 26th. Morgan Stanley reissued a “hold” rating and issued a $23.00 price objective on shares of Commscope in a research note on Friday, November 9th. They noted that the move was a valuation call. ValuEngine raised shares of Commscope from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Finally, Bank of America cut shares of Commscope from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Tuesday, November 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Commscope has an average rating of “Hold” and an average price target of $32.02.

ILLEGAL ACTIVITY WARNING: “Shell Asset Management Co. Decreases Holdings in Commscope Holding Company Inc (COMM)” was first reported by BBNS and is the sole property of of BBNS. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://baseballnewssource.com/2018/12/08/shell-asset-management-co-decreases-holdings-in-commscope-holding-company-inc-comm/3065453.html.

Commscope Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

Featured Story: What is an SEC Filing?

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commscope Holding Company Inc (NASDAQ:COMM).

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.