Frank M. Drendel Sells 15,000 Shares of CommScope Holding Co. (COMM) Stock
CommScope Holding Co. (NASDAQ:COMM) Director Frank M. Drendel sold 15,000 shares of CommScope Holding stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $31.02, for a total value of $465,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Frank M. Drendel also recently made the following trade(s):
- On Monday, September 19th, Frank M. Drendel sold 30,000 shares of CommScope Holding stock. The shares were sold at an average price of $31.22, for a total value of $936,600.00.
Shares of CommScope Holding Co. (NASDAQ:COMM) opened at 31.62 on Friday. The company’s 50-day moving average price is $30.07 and its 200 day moving average price is $29.81. The company’s market cap is $6.09 billion. CommScope Holding Co. has a 12-month low of $19.37 and a 12-month high of $33.54.
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CommScope Holding (NASDAQ:COMM) last announced its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business earned $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. CommScope Holding’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Equities analysts predict that CommScope Holding Co. will post $2.50 earnings per share for the current year.
A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on CommScope Holding in a research note on Tuesday, September 20th. They issued an “equal weight” rating and a $35.00 target price for the company. Credit Agricole SA assumed coverage on CommScope Holding in a research note on Wednesday, June 15th. They issued a “buy” rating and a $40.00 target price for the company. Jefferies Group reissued a “buy” rating and issued a $38.00 target price on shares of CommScope Holding in a research note on Thursday, September 15th. Deutsche Bank AG reissued a “buy” rating on shares of CommScope Holding in a research note on Wednesday, June 15th. Finally, Zacks Investment Research cut CommScope Holding from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $34.07.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of CommScope Holding by 112.8% in the third quarter. BNP Paribas Arbitrage SA now owns 44,365 shares of the company’s stock valued at $1,336,000 after buying an additional 23,518 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of CommScope Holding by 14.1% in the second quarter. Macquarie Group Ltd. now owns 2,199,175 shares of the company’s stock valued at $68,240,000 after buying an additional 272,126 shares in the last quarter. Williams Jones & Associates LLC bought a new position in shares of CommScope Holding during the second quarter valued at about $2,747,000. Public Employees Retirement System of Ohio raised its position in shares of CommScope Holding by 55.8% in the second quarter. Public Employees Retirement System of Ohio now owns 41,858 shares of the company’s stock valued at $1,299,000 after buying an additional 14,989 shares in the last quarter. Finally, Calvert Investment Management Inc. bought a new position in shares of CommScope Holding during the second quarter valued at about $217,000.
CommScope Holding Company Profile
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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