The Tudor Investment Corp ET AL Sells 2,642 Shares of CommScope Holding Company, Inc. (COMM)

The Tudor Investment Corp ET AL Sells 2,642 Shares of CommScope Holding Company, Inc. (COMM)

Tudor Investment Corp ET AL reduced its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 21.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,472 shares of the communications equipment provider’s stock after selling 2,642 shares during the period. Tudor Investment Corp ET AL’s holdings in CommScope Holding were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of CommScope Holding by 1.2% in the second quarter. Vanguard Group Inc. now owns 15,843,334 shares of the communications equipment provider’s stock valued at $602,522,000 after buying an additional 183,790 shares during the period. BlackRock Inc. boosted its stake in shares of CommScope Holding by 19.0% in the second quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after buying an additional 2,438,894 shares during the period. FMR LLC boosted its stake in shares of CommScope Holding by 6.6% in the second quarter. FMR LLC now owns 11,279,906 shares of the communications equipment provider’s stock valued at $428,975,000 after buying an additional 702,210 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CommScope Holding by 54.5% in the second quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after buying an additional 2,930,632 shares during the period. Finally, Route One Investment Company L.P. boosted its stake in shares of CommScope Holding by 9.2% in the second quarter. Route One Investment Company L.P. now owns 7,096,121 shares of the communications equipment provider’s stock valued at $269,865,000 after buying an additional 597,774 shares during the period.

COMM has been the subject of several recent research reports. Morgan Stanley upgraded CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 price target for the company in a research note on Thursday, August 17th. Zacks Investment Research upgraded CommScope Holding from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Cross Research cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Northland Securities reiterated a “hold” rating and issued a $30.00 price target on shares of CommScope Holding in a research note on Thursday, August 3rd. Finally, BidaskClub cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. CommScope Holding currently has an average rating of “Buy” and an average price target of $41.20.

In related news, Director Claudius E. Iv Watts acquired 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $32.87 per share, with a total value of $493,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy T. Yates acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. Insiders own 3.33% of the company’s stock.

Shares of CommScope Holding Company, Inc. (NASDAQ COMM) opened at 32.19 on Friday. The firm’s 50-day moving average price is $33.08 and its 200 day moving average price is $36.29. CommScope Holding Company, Inc. has a 1-year low of $29.91 and a 1-year high of $42.75. The company has a market capitalization of $6.21 billion, a PE ratio of 26.87 and a beta of 1.18.

CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.05). CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities analysts predict that CommScope Holding Company, Inc. will post $2.22 EPS for the current fiscal year.

CommScope Holding announced that its board has initiated a share repurchase program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

CommScope Holding 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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