Teachers Retirement System of The State of Kentucky bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) during the third quarter, Holdings Channel reports. The fund bought 424,728 shares of the communications equipment provider’s stock, valued at approximately $3,912,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC increased its holdings in CommScope by 2,089.9% during the 3rd quarter. Lazard Asset Management LLC now owns 3,460 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 3,302 shares during the period. Captrust Financial Advisors increased its holdings in CommScope by 124.4% during the 2nd quarter. Captrust Financial Advisors now owns 6,356 shares of the communications equipment provider’s stock worth $39,000 after acquiring an additional 3,524 shares during the period. Acadian Asset Management LLC bought a new stake in CommScope during the 1st quarter worth approximately $51,000. Mackenzie Financial Corp bought a new stake in CommScope during the 2nd quarter worth approximately $85,000. Finally, Kaizen Financial Strategies bought a new stake in CommScope during the 3rd quarter worth approximately $92,000. Institutional investors own 90.18% of the company’s stock.
CommScope Stock Performance
Shares of CommScope stock opened at $6.04 on Friday. CommScope Holding Company, Inc. has a 52-week low of $5.56 and a 52-week high of $13.73. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -0.93, a price-to-earnings-growth ratio of 0.23 and a beta of 1.85. The company has a fifty day moving average of $7.91 and a 200-day moving average of $9.22.
Insider Buying and Selling at CommScope
In other news, Director Claudius E. Iv Watts purchased 10,000 shares of the company’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $6.75 per share, with a total value of $67,500.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $67,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
COMM has been the subject of a number of research reports. Morgan Stanley cut their price target on shares of CommScope from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 13th. StockNews.com initiated coverage on shares of CommScope in a research note on Thursday. They issued a “hold” rating for the company. Credit Suisse Group cut their price target on shares of CommScope from $17.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. JPMorgan Chase & Co. cut their price target on shares of CommScope from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, December 20th. Finally, Bank of America raised shares of CommScope from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $15.00 in a research note on Thursday, January 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.38.
CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband, Home, Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.
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