Great Lakes Advisors LLC Invests $59,000 in CommScope Holding Company, Inc. (NASDAQ:COMM)

Great Lakes Advisors LLC bought a new position in CommScope Holding Company, Inc. (NASDAQ:COMMFree Report) in the 3rd quarter, Holdings Channel reports. The firm bought 17,567 shares of the communications equipment provider’s stock, valued at approximately $59,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of CommScope by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 27,002,559 shares of the communications equipment provider’s stock worth $212,781,000 after acquiring an additional 2,790,362 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of CommScope by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 18,146,557 shares of the communications equipment provider’s stock worth $142,995,000 after acquiring an additional 195,374 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of CommScope by 6.7% in the 2nd quarter. BlackRock Inc. now owns 16,479,026 shares of the communications equipment provider’s stock worth $92,777,000 after acquiring an additional 1,033,406 shares during the last quarter. Bank of America Corp DE lifted its holdings in CommScope by 59.1% during the 1st 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 in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in CommScope by 9.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,871,351 shares of the communications equipment provider’s stock valued at $62,026,000 after buying an additional 710,698 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Down 2.7 %

Shares of CommScope stock opened at $2.15 on Thursday. The firm’s 50 day moving average price is $2.40 and its 200-day moving average price is $2.74. CommScope Holding Company, Inc. has a 52-week low of $1.34 and a 52-week high of $8.69. The company has a market cap of $455.93 million, a P/E ratio of -0.22, a PEG ratio of 0.17 and a beta of 2.12.

CommScope (NASDAQ:COMMGet Free Report) last issued its quarterly earnings data 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). CommScope had a negative return on equity of 15.04% and a negative net margin of 26.15%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. As a group, equities research analysts forecast that CommScope Holding Company, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at CommScope

In related news, CEO Charles L. Treadway bought 153,019 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $1.63 per share, with a total value of $249,420.97. Following the transaction, the chief executive officer now owns 2,213,206 shares in the company, valued at $3,607,525.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Charles L. Treadway bought 153,019 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $1.63 per share, with a total value of $249,420.97. Following the transaction, the chief executive officer now owns 2,213,206 shares in the company, valued at $3,607,525.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle David Lorentzen acquired 40,000 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were acquired at an average price of $1.85 per share, with a total value of $74,000.00. Following the completion of the purchase, the chief financial officer now owns 521,189 shares in the company, valued at approximately $964,199.65. The disclosure for this purchase can be found here. Insiders have bought a total of 360,132 shares of company stock valued at $590,599 in the last 90 days. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

COMM has been the subject of a number of research analyst reports. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Wednesday. Bank of America lowered shares of CommScope from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $2.10 to $2.00 in a report on Monday, January 22nd. Raymond James upgraded shares of CommScope from an “underperform” rating to a “market perform” rating in a report on Thursday, November 16th. Finally, Morgan Stanley decreased their price objective on shares of CommScope from $4.50 to $2.00 and set an “equal weight” rating for the company in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, CommScope presently has a consensus rating of “Hold” and a consensus target price of $4.43.

Get Our Latest Report on COMM

CommScope Company Profile

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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