Insider Selling: CommScope Holding Co. (COMM) Director Sells 30,000 Shares of Stock
CommScope Holding Co. (NASDAQ:COMM) Director Frank M. Drendel sold 30,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $31.22, for a total transaction of $936,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Frank M. Drendel also recently made the following trade(s):
- On Thursday, July 7th, Frank M. Drendel sold 7,336 shares of CommScope Holding stock. The shares were sold at an average price of $31.24, for a total transaction of $229,176.64.
- On Friday, July 1st, Frank M. Drendel sold 7,664 shares of CommScope Holding stock. The shares were sold at an average price of $31.08, for a total transaction of $238,197.12.
Shares of CommScope Holding Co. (NASDAQ:COMM) opened at 30.64 on Thursday. The company’s 50-day moving average is $29.46 and its 200-day moving average is $29.50. CommScope Holding Co. has a one year low of $19.37 and a one year high of $33.54. The company’s market cap is $5.90 billion.
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CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. The company earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. The firm’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities analysts predict that CommScope Holding Co. will post $2.50 EPS for the current year.
COMM has been the subject of several research analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of CommScope Holding in a research note on Friday, July 29th. Zacks Investment Research cut shares of CommScope Holding from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $35.00 target price on shares of CommScope Holding in a research note on Monday. Jefferies Group reaffirmed a “buy” rating and set a $38.00 target price on shares of CommScope Holding in a research note on Thursday, September 15th. Finally, BTIG Research initiated coverage on shares of CommScope Holding in a research note on Friday, June 17th. They set a “buy” rating and a $41.00 target price for the company. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.93.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in CommScope Holding by 220.0% in the first quarter. BlackRock Inc. now owns 14,404 shares of the company’s stock worth $402,000 after buying an additional 9,903 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in CommScope Holding by 961.5% in the second quarter. BNP Paribas Arbitrage SA now owns 20,847 shares of the company’s stock worth $647,000 after buying an additional 18,883 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in CommScope Holding by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,983,877 shares of the company’s stock worth $83,310,000 after buying an additional 43,619 shares in the last quarter. Calvert Investment Management Inc. bought a new position in CommScope Holding during the second quarter worth $217,000. Finally, BlackRock Group LTD boosted its position in CommScope Holding by 29.6% in the first quarter. BlackRock Group LTD now owns 100,780 shares of the company’s stock worth $2,814,000 after buying an additional 23,036 shares in the last quarter.
About CommScope Holding
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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