Commscope Holding Company Inc (NASDAQ:COMM) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 6,860,915 shares, a decrease of 29.5% from the January 12th total of 9,736,110 shares. Currently, 3.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,030,510 shares, the days-to-cover ratio is presently 3.4 days.
In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $36.45, for a total value of $1,822,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank M. Drendel sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total value of $570,300.00. The disclosure for this sale can be found here. Insiders sold 180,284 shares of company stock valued at $6,807,245 in the last ninety days. 3.33% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Krilogy Financial LLC boosted its holdings in shares of Commscope by 5.7% during the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 170 shares in the last quarter. American International Group Inc. bought a new position in shares of Commscope during the 4th quarter worth approximately $161,000. Taurus Asset Management LLC bought a new position in shares of Commscope during the 3rd quarter worth approximately $222,000. Parametrica Management Ltd bought a new position in shares of Commscope during the 4th quarter worth approximately $276,000. Finally, Achmea Investment Management B.V. bought a new position in shares of Commscope during the 2nd quarter worth approximately $284,000.
Shares of Commscope (COMM) opened at $37.06 on Friday. The firm has a market cap of $7,283.30, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 2.41 and a beta of 1.13. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Commscope has a 52-week low of $30.95 and a 52-week high of $42.75.
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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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