CommScope Holding Company, Inc. (NASDAQ:COMM – Get Free Report) Director Claudius E. Iv Watts acquired 60,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $1.39 per share, for a total transaction of $83,400.00. Following the acquisition, the director now directly owns 776,030 shares in the company, valued at approximately $1,078,681.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
CommScope Stock Performance
NASDAQ:COMM opened at $1.80 on Thursday. The stock has a market capitalization of $381.71 million, a price-to-earnings ratio of -0.17, a PEG ratio of 0.13 and a beta of 1.97. CommScope Holding Company, Inc. has a 1 year low of $1.34 and a 1 year high of $9.34. The stock has a fifty day moving average price of $2.60 and a two-hundred day moving average price of $3.82.
Analysts Set New Price Targets
Several research firms have weighed in on COMM. Bank of America lowered shares of CommScope from a “buy” rating to a “neutral” rating and decreased their target price for the company from $2.25 to $1.75 in a report on Friday, November 10th. Morgan Stanley cut their target price on shares of CommScope from $4.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Friday, November 10th. Credit Suisse Group cut CommScope from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $5.10 in a research note on Monday, July 24th. Northland Securities lowered their target price on shares of CommScope from $7.00 to $6.00 in a research note on Friday, August 4th. Finally, Raymond James upgraded shares of CommScope from an “underperform” rating to a “market perform” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, CommScope presently has an average rating of “Hold” and a consensus price target of $5.19.
Institutional Trading of CommScope
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in CommScope by 124.4% in the second quarter. Captrust Financial Advisors now owns 6,356 shares of the communications equipment provider’s stock valued at $39,000 after buying an additional 3,524 shares in the last quarter. Blair William & Co. IL acquired a new position in CommScope during the third quarter worth $40,000. Envestnet Asset Management Inc. purchased a new stake in CommScope during the third quarter worth $43,000. Acadian Asset Management LLC acquired a new stake in CommScope in the first quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of CommScope by 65.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,898 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 3,924 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.
CommScope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. It operates through five segments: Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS); Access Network Solutions (ANS); and Home Networks (Home).
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