Acrospire Investment Management LLC Has $102,000 Stake in CommScope Holding Co. (COMM)
Acrospire Investment Management LLC increased its position in CommScope Holding Co. (NASDAQ:COMM) by 153.8% during the second quarter, Holdings Channel reports. The institutional investor owned 3,300 shares of the company’s stock after buying an additional 2,000 shares during the period. Acrospire Investment Management LLC’s holdings in CommScope Holding were worth $102,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in CommScope Holding by 32.1% in the second quarter. Teacher Retirement System of Texas now owns 21,541 shares of the company’s stock valued at $668,000 after buying an additional 5,233 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in CommScope Holding by 16.2% in the second quarter. UBS Asset Management Americas Inc. now owns 113,440 shares of the company’s stock valued at $3,520,000 after buying an additional 15,816 shares in the last quarter. JPMorgan Chase & Co. boosted its position in CommScope Holding by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 5,241,359 shares of the company’s stock valued at $162,639,000 after buying an additional 410,989 shares in the last quarter. Advisors Asset Management Inc. boosted its position in CommScope Holding by 998.3% in the second quarter. Advisors Asset Management Inc. now owns 18,594 shares of the company’s stock valued at $577,000 after buying an additional 16,901 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in CommScope Holding during the second quarter valued at $252,000.
CommScope Holding Co. (NASDAQ:COMM) traded down 1.59% during midday trading on Wednesday, reaching $30.34. The company had a trading volume of 3,789,401 shares. CommScope Holding Co. has a one year low of $19.37 and a one year high of $33.54. The stock’s 50 day moving average is $29.41 and its 200 day moving average is $29.49. The company’s market capitalization is $5.84 billion.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 50.7% on a year-over-year basis. Equities research analysts forecast that CommScope Holding Co. will post $2.50 earnings per share for the current fiscal year.
COMM has been the subject of several research analyst reports. Credit Suisse Group AG reissued a “buy” rating on shares of CommScope Holding in a research report on Friday, July 29th. Zacks Investment Research cut CommScope Holding from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $35.00 price target on shares of CommScope Holding in a report on Monday. Jefferies Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of CommScope Holding in a report on Thursday, September 15th. Finally, BTIG Research assumed coverage on CommScope Holding in a report on Friday, June 17th. They issued a “buy” rating and a $41.00 price target for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.93.
In other CommScope Holding news, Director Frank M. Drendel sold 7,336 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $31.24, for a total transaction of $229,176.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Group L.P. Carlyle sold 11,500,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $29.04, for a total transaction of $333,960,000.00. The disclosure for this sale can be found here. Company insiders own 4.09% of the company’s stock.
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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