Xact Kapitalforvaltning AB Sells 11,600 Shares of Commscope Holding Company Inc (NASDAQ:COMM)
Xact Kapitalforvaltning AB lowered its position in Commscope Holding Company Inc (NASDAQ:COMM) by 33.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,400 shares of the communications equipment provider’s stock after selling 11,600 shares during the period. Xact Kapitalforvaltning AB’s holdings in Commscope were worth $368,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in shares of Commscope by 200.6% in the first quarter. Advisors Asset Management Inc. now owns 6,382 shares of the communications equipment provider’s stock worth $139,000 after acquiring an additional 4,259 shares during the period. Bank of Montreal Can grew its holdings in Commscope by 24.9% during the first quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock valued at $179,000 after purchasing an additional 1,644 shares during the period. Commerce Bank bought a new stake in Commscope during the first quarter valued at about $201,000. IFM Investors Pty Ltd bought a new stake in Commscope during the first quarter valued at about $208,000. Finally, Tibra Equities Europe Ltd bought a new stake in Commscope during the first quarter valued at about $226,000. 98.13% of the stock is owned by institutional investors.
COMM has been the subject of several recent research reports. Morgan Stanley reissued a “top pick” rating on shares of in a report on Wednesday, June 5th. Nomura cut their price target on Commscope from $24.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Zacks Investment Research raised Investar from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, June 4th. Goldman Sachs Group set a €6.20 ($7.21) price target on Kloeckner & Co SE and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, BidaskClub lowered YY from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Commscope currently has a consensus rating of “Hold” and a consensus price target of $23.84.
Shares of NASDAQ:COMM traded down $0.07 during mid-day trading on Monday, reaching $14.86. The stock had a trading volume of 126,010 shares, compared to its average volume of 2,735,942. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.42 and a current ratio of 2.01. The firm has a market cap of $2.84 billion, a P/E ratio of 7.03, a P/E/G ratio of 0.33 and a beta of 1.41. Commscope Holding Company Inc has a 1 year low of $14.28 and a 1 year high of $32.48. The business has a 50 day moving average of $15.62.
Commscope (NASDAQ:COMM) last posted its earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Commscope had a return on equity of 23.46% and a net margin of 2.29%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, equities research analysts anticipate that Commscope Holding Company Inc will post 2.24 EPS for the current year.
Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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