Insider Buying: CommScope Holding Company, Inc. (NASDAQ:COMM) CEO Buys 56,155 Shares of Stock

CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) CEO Charles L. Treadway bought 56,155 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average price of $4.45 per share, with a total value of $249,889.75. Following the transaction, the chief executive officer now owns 1,673,549 shares in the company, valued at approximately $7,447,293.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CommScope Price Performance

Shares of COMM stock opened at $4.28 on Friday. CommScope Holding Company, Inc. has a 12-month low of $4.21 and a 12-month high of $13.73. The firm has a market capitalization of $897.72 million, a price-to-earnings ratio of -0.74, a price-to-earnings-growth ratio of 0.18 and a beta of 1.85. The business has a 50 day simple moving average of $5.59 and a 200 day simple moving average of $7.50.

CommScope (NASDAQ:COMM – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The communications equipment provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. CommScope had a negative return on equity of 38.03% and a negative net margin of 12.87%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that CommScope Holding Company, Inc. will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of CommScope by 11.5% during the first quarter. Vanguard Group Inc. now owns 27,002,559 shares of the communications equipment provider’s stock valued at $212,781,000 after acquiring an additional 2,790,362 shares during the period. FPR Partners LLC boosted its stake in CommScope by 2.3% during the 3rd quarter. FPR Partners LLC now owns 20,798,018 shares of the communications equipment provider’s stock valued at $191,550,000 after purchasing an additional 475,000 shares in the last quarter. Wellington Management Group LLP increased its position in shares of CommScope by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 18,146,557 shares of the communications equipment provider’s stock valued at $142,995,000 after purchasing an additional 195,374 shares during the period. BlackRock Inc. raised its stake in shares of CommScope by 1.1% in the 1st quarter. BlackRock Inc. now owns 15,445,620 shares of the communications equipment provider’s stock worth $98,389,000 after buying an additional 167,140 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of CommScope by 59.1% in the first quarter. Bank of America Corp DE now owns 8,226,097 shares of the communications equipment provider’s stock valued at $52,400,000 after buying an additional 3,056,141 shares during the period. Institutional investors and hedge funds own 90.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CommScope from $9.00 to $8.00 in a research note on Friday, May 5th. StockNews.com initiated coverage on shares of CommScope in a research report on Thursday, March 16th. They set a “hold” rating for the company. Northland Securities raised shares of CommScope from a “market perform” rating to an “outperform” rating and set a $7.00 target price on the stock in a report on Friday, May 5th. TheStreet lowered CommScope from a “c-” rating to a “d” rating in a report on Monday, March 20th. Finally, Credit Suisse Group cut their price target on CommScope from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, CommScope currently has an average rating of “Hold” and an average price target of $9.17.

CommScope Company 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.