Commscope Holding Company Inc (NASDAQ:COMM) Shares Sold by BNP Paribas Arbitrage SA

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BNP Paribas Arbitrage SA lowered its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 64.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,226 shares of the communications equipment provider’s stock after selling 111,437 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Commscope were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. boosted its stake in shares of Commscope by 29.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 500,037 shares of the communications equipment provider’s stock valued at $10,866,000 after purchasing an additional 113,400 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Commscope in the 1st quarter valued at approximately $639,000. Poplar Forest Capital LLC raised its holdings in shares of Commscope by 11.6% during the first quarter. Poplar Forest Capital LLC now owns 26,187 shares of the communications equipment provider’s stock worth $569,000 after acquiring an additional 2,712 shares during the period. Laurion Capital Management LP bought a new stake in Commscope in the 1st quarter valued at $1,380,000. Finally, Andra AP fonden bought a new stake in Commscope in the 1st quarter valued at $6,295,000. Institutional investors own 98.46% of the company’s stock.

In other news, Director L William Krause purchased 21,250 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $11.87 per share, with a total value of $252,237.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank M. Drendel sold 80,800 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $15.84, for a total value of $1,279,872.00. The disclosure for this sale can be found here. Insiders own 3.25% of the company’s stock.

A number of brokerages have recently commented on COMM. Credit Suisse Group cut their price target on Commscope from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Zacks Investment Research downgraded shares of Commscope from a “strong-buy” rating to a “sell” rating and set a $17.00 target price for the company. in a research report on Tuesday, June 4th. BidaskClub raised Commscope from a “strong sell” rating to a “sell” rating in a report on Tuesday. Morgan Stanley upgraded shares of Commscope from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Wednesday, June 5th. Finally, TheStreet cut Commscope from a “c” rating to a “d” rating in a research note on Friday, August 16th. Three investment 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. The company has an average rating of “Hold” and an average price target of $19.13.

NASDAQ:COMM opened at $13.20 on Thursday. The stock has a market cap of $2.43 billion, a P/E ratio of 6.26, a price-to-earnings-growth ratio of 0.39 and a beta of 1.50. The stock’s 50-day moving average is $12.00 and its 200-day moving average is $17.99. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 7.23. Commscope Holding Company Inc has a 1-year low of $9.52 and a 1-year high of $31.35.

Commscope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.57 billion. Commscope had a positive return on equity of 25.08% and a negative net margin of 5.03%. The business’s revenue was up 107.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, equities analysts forecast that Commscope Holding Company Inc will post 1.87 EPS for the current year.

About Commscope

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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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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