Insider Selling: CommScope Holding Co. (COMM) COO Sells 25,000 Shares of Stock
CommScope Holding Co. (NASDAQ:COMM) COO Randall W. Crenshaw sold 25,000 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $31.01, for a total value of $775,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Randall W. Crenshaw also recently made the following trade(s):
- On Monday, September 19th, Randall W. Crenshaw sold 50,000 shares of CommScope Holding stock. The stock was sold at an average price of $31.18, for a total value of $1,559,000.00.
CommScope Holding Co. (NASDAQ:COMM) opened at 31.62 on Friday. 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 $6.09 billion. The company has a 50 day moving average of $30.07 and a 200-day moving average of $29.81.
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CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. The company’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, equities analysts expect that CommScope Holding Co. will post $2.50 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered CommScope Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. 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 price target for the company. Deutsche Bank AG reiterated a “buy” rating and issued a $35.00 price target on shares of CommScope Holding in a research note on Monday, September 19th. Jefferies Group reiterated a “buy” rating and issued a $38.00 price target on shares of CommScope Holding in a research note on Thursday, September 15th. Finally, TheStreet upgraded CommScope Holding from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $34.07.
Hedge funds and other institutional investors have recently modified their holdings of the company. Lone Pine Capital LLC increased its position in shares of CommScope Holding by 309.5% in the second quarter. Lone Pine Capital LLC now owns 3,492,871 shares of the company’s stock worth $108,384,000 after buying an additional 2,639,885 shares during the period. Vanguard Group Inc. increased its position in shares of CommScope Holding by 19.7% in the second quarter. Vanguard Group Inc. now owns 10,322,245 shares of the company’s stock worth $320,299,000 after buying an additional 1,701,230 shares during the period. Makaira Partners LLC purchased a new position in shares of CommScope Holding during the second quarter worth $47,764,000. FPR Partners LLC increased its position in shares of CommScope Holding by 12.8% in the first quarter. FPR Partners LLC now owns 10,133,917 shares of the company’s stock worth $282,939,000 after buying an additional 1,147,834 shares during the period. Finally, Criterion Capital Management LLC increased its position in shares of CommScope Holding by 38.9% in the second quarter. Criterion Capital Management LLC now owns 3,949,526 shares of the company’s stock worth $122,554,000 after buying an additional 1,106,659 shares during the period.
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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