424,728 Shares in CommScope Holding Company, Inc. (NASDAQ:COMM) Acquired by Teachers Retirement System of The State of Kentucky

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.

CommScope (NASDAQ:COMM – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The communications equipment provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. CommScope had a negative net margin of 14.11% and a negative return on equity of 51.71%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. On average, equities research analysts forecast that CommScope Holding Company, Inc. will post 1.88 earnings per share for the current fiscal year.

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 Profile

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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.