Short Interest in CommScope Holding Company, Inc. (COMM) Decreases By 14.0%
CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of a large drop in short interest in July. As of July 14th, there was short interest totalling 6,831,888 shares, a drop of 14.0% from the June 30th total of 7,947,955 shares. Approximately 3.6% of the company’s stock are sold short. Based on an average trading volume of 3,389,123 shares, the short-interest ratio is currently 2.0 days.
COMM has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $43.00 target price on shares of CommScope Holding in a research note on Friday, July 14th. Zacks Investment Research upgraded CommScope Holding from a “sell” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, May 2nd. Deutsche Bank AG lifted their target price on CommScope Holding from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Nomura initiated coverage on CommScope Holding in a research note on Thursday, May 25th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Instinet initiated coverage on CommScope Holding in a research note on Thursday, May 25th. They set a “buy” rating and a $45.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.20.
Shares of CommScope Holding (COMM) opened at 36.53 on Friday. The company has a 50-day moving average price of $37.02 and a 200 day moving average price of $38.32. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 29.53 and a beta of 1.19. CommScope Holding has a one year low of $28.28 and a one year high of $42.75.
CommScope Holding (NASDAQ:COMM) last posted its earnings results on Thursday, May 4th. The communications equipment provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. CommScope Holding had a return on equity of 36.96% and a net margin of 4.96%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $0.48 earnings per share. CommScope Holding’s revenue was down .6% on a year-over-year basis. Equities research analysts expect that CommScope Holding will post $2.72 earnings per share for the current year.
In related news, Director Timothy T. Yates acquired 3,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were acquired at an average cost of $35.34 per share, for a total transaction of $106,020.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank M. Drendel sold 15,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $42.18, for a total value of $632,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,370 shares of company stock worth $1,487,426. Company insiders own 3.33% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. increased its position in CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 439 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 160 shares in the last quarter. LS Investment Advisors LLC purchased a new position in CommScope Holding during the second quarter worth $114,000. Financial Architects Inc increased its position in CommScope Holding by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 1,244 shares in the last quarter. Finally, Poplar Forest Capital LLC purchased a new position in CommScope Holding during the first quarter worth $200,000. 98.22% of the stock is currently owned by institutional investors.
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CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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