Levin Capital Strategies L.P. purchased a new position in Commscope Holding Company Inc (NASDAQ:COMM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,510,573 shares of the communications equipment provider’s stock, valued at approximately $73,928,000. Commscope accounts for approximately 1.6% of Levin Capital Strategies L.P.’s holdings, making the stock its 22nd biggest holding.
Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its position in Commscope by 11.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 750 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Commscope by 7.0% in the fourth quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 774 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Commscope by 2.5% in the fourth quarter. Rhumbline Advisers now owns 172,645 shares of the communications equipment provider’s stock worth $2,830,000 after buying an additional 4,221 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Commscope by 3.3% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,750 shares of the communications equipment provider’s stock worth $1,127,000 after buying an additional 2,200 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Commscope in the fourth quarter worth $76,000.
A number of research analysts have issued reports on COMM shares. ValuEngine cut shares of Commscope from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. Credit Suisse Group set a $20.00 price target on shares of Commscope and gave the stock a “neutral” rating in a report on Thursday, December 20th. Morgan Stanley decreased their price target on shares of Commscope from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, January 7th. Jefferies Financial Group raised shares of Commscope from a “hold” rating to a “buy” rating and decreased their price target for the stock from $30.50 to $28.50 in a report on Monday, November 26th. Finally, Raymond James raised shares of Commscope from a “market perform” rating to an “outperform” rating in a report on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Commscope presently has an average rating of “Hold” and an average target price of $31.02.
In other Commscope news, Director Claudius E. Iv Watts acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $475,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alexander W. Pease acquired 40,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was acquired at an average price of $18.70 per share, for a total transaction of $748,000.00. The disclosure for this purchase can be found here. Insiders bought 72,500 shares of company stock worth $1,364,000 in the last quarter. Company insiders own 3.35% of the company’s stock.
NASDAQ:COMM opened at $21.36 on Monday. The firm has a market capitalization of $4.09 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. Commscope Holding Company Inc has a 1-year low of $15.09 and a 1-year high of $41.60. The company has a current ratio of 2.44, a quick ratio of 1.80 and a debt-to-equity ratio of 2.27.
Commscope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.22 billion. Commscope had a return on equity of 23.68% and a net margin of 4.69%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. Research analysts predict that Commscope Holding Company Inc will post 1.98 EPS for the current fiscal year.
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CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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