Insider Selling: Mark A. Olson Unloads 10,000 Shares of Commscope Holding Company Stock (COMM)
Commscope Holding Company (NASDAQ:COMM) CFO Mark A. Olson unloaded 10,000 shares of Commscope Holding Company stock on the open market in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $22.77, for a total value of $227,700.00. Following the completion of the transaction, the chief financial officer now directly owns 9,906 shares of the company’s stock, valued at approximately $225,560. The transaction was disclosed in a filing with the SEC, which is available at this link.
Commscope Holding Company (NASDAQ:COMM) traded up 2.14% during mid-day trading on Wednesday, hitting $23.34. 756,911 shares of the company’s stock traded hands. Commscope Holding Company has a 52 week low of $14.72 and a 52 week high of $27.96. The stock’s 50-day moving average is $23.94 and its 200-day moving average is $22.6. The company has a market cap of $4.346 billion and a P/E ratio of 57.27.
Commscope Holding Company (NASDAQ:COMM) last announced its earnings results on Wednesday, April 30th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.08. The company had revenue of $953.00 million for the quarter, compared to the consensus estimate of $804.70 million. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Commscope Holding Company will post $2.11 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on COMM shares. Analysts at Raymond James reiterated an “outperform” rating on shares of Commscope Holding Company in a research note on Friday, July 11th. They now have a $31.00 price target on the stock, up previously from $30.00. Separately, analysts at Zacks downgraded shares of Commscope Holding Company from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $30.40 price target on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.72.
CommScope Holding Company, Inc is a provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks.
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