A number of other equities research analysts have also recently issued reports on the stock. Bank of America cut shares of CommScope from a neutral rating to an underperform rating and dropped their target price for the stock from $2.10 to $2.00 in a research report on Monday, January 22nd. Raymond James upgraded shares of CommScope from an underperform rating to a market perform rating in a research report on Thursday, November 16th. Finally, Morgan Stanley lowered their price objective on shares of CommScope from $4.50 to $2.00 and set an equal weight rating for the company in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $4.43.
CommScope Stock Down 2.7 %
CommScope (NASDAQ:COMM – Get Free Report) last announced its earnings results on Thursday, November 9th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. CommScope had a negative return on equity of 15.04% and a negative net margin of 26.15%. On average, equities analysts anticipate that CommScope will post 0.6 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Justin C. Choi purchased 28,600 shares of the business’s stock in a transaction on Monday, November 27th. The shares were purchased at an average price of $1.74 per share, with a total value of $49,764.00. Following the completion of the purchase, the senior vice president now owns 360,913 shares in the company, valued at approximately $627,988.62. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other CommScope news, CEO Charles L. Treadway acquired 153,019 shares of the stock in a transaction dated Wednesday, November 15th. The shares were bought at an average cost of $1.63 per share, for a total transaction of $249,420.97. Following the completion of the acquisition, the chief executive officer now directly owns 2,213,206 shares of the company’s stock, valued at $3,607,525.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Justin C. Choi acquired 28,600 shares of the stock in a transaction dated Monday, November 27th. The stock was acquired at an average price of $1.74 per share, for a total transaction of $49,764.00. Following the completion of the acquisition, the senior vice president now directly owns 360,913 shares of the company’s stock, valued at $627,988.62. The disclosure for this purchase can be found here. Insiders have bought 360,132 shares of company stock valued at $590,599 in the last 90 days. 2.40% of the stock is owned by insiders.
Institutional Trading of CommScope
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Symphony Financial Ltd. Co. bought a new stake in CommScope during the fourth quarter worth $28,000. Captrust Financial Advisors raised 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 purchasing an additional 3,524 shares during the period. Blair William & Co. IL bought a new position in shares of CommScope in the third quarter valued at about $40,000. Envestnet Asset Management Inc. bought a new position in shares of CommScope in the third quarter valued at about $43,000. Finally, Advisor Resource Council bought a new position in shares of CommScope in the fourth quarter valued at about $48,000. 88.04% of the stock is owned by institutional investors.
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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