Commscope Holding Company Shares Down 3.5% After Insider Selling (COMM)
Commscope Holding Company (NASDAQ:COMM)’s share price dropped 3.5% on Wednesday after an insider sold shares in the company, AnalystRatings.Net reports. The stock traded as low as $23.06 and last traded at $23.24, with a volume of 1,279,918 shares trading hands. The stock had previously closed at $24.08.
Specifically, SVP Philip Martin Armstrong, Jr. sold 30,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $24.12, for a total transaction of $723,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
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 investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.72.
The stock’s 50-day moving average is $23.56 and its 200-day moving average is $22.. The company has a market cap of $4.331 billion and a P/E ratio of 60.35.
Commscope Holding Company (NASDAQ:COMM) last issued its quarterly earnings data 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.
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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