COMM has been the topic of several other reports. Credit Suisse Group cut CommScope from an outperform rating to a neutral rating and dropped their price objective for the company from $11.00 to $5.10 in a research note on Monday, July 24th. StockNews.com assumed coverage on shares of CommScope in a research report on Thursday, October 5th. They set a hold rating on the stock. Northland Securities reduced their price objective on shares of CommScope from $7.00 to $6.00 in a research report on Friday, August 4th. Morgan Stanley cut their price objective on CommScope from $4.50 to $2.00 and set an equal weight rating on the stock in a research report on Friday, November 10th. Finally, Bank of America cut CommScope from a buy rating to a neutral rating and lowered their target price for the stock from $2.25 to $1.75 in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $5.19.
CommScope Price Performance
In other news, Director Claudius E. Iv Watts acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average price of $3.43 per share, with a total value of $34,300.00. Following the acquisition, the director now owns 706,030 shares in the company, valued at approximately $2,421,682.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CommScope news, Director Claudius E. Iv Watts acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $3.43 per share, with a total value of $34,300.00. Following the acquisition, the director now owns 706,030 shares in the company, valued at $2,421,682.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles L. Treadway bought 153,019 shares of the stock in a transaction on Wednesday, November 15th. The shares were acquired at an average cost of $1.63 per share, for a total transaction of $249,420.97. Following the acquisition, the chief executive officer now directly owns 2,213,206 shares in the company, valued at $3,607,525.78. The disclosure for this purchase can be found here. Insiders have bought 233,019 shares of company stock valued at $400,521 in the last 90 days. Insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in COMM. Captrust Financial Advisors boosted its position in shares of 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 acquiring an additional 3,524 shares during the period. Blair William & Co. IL bought a new position in CommScope in the 3rd quarter valued at $40,000. Envestnet Asset Management Inc. purchased a new position in shares of CommScope during the 3rd quarter valued at $43,000. Acadian Asset Management LLC bought a new position in shares of CommScope in the first quarter worth $51,000. Finally, Tower Research Capital LLC TRC raised 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 worth $56,000 after buying an additional 3,924 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.
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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