Frank M. Drendel Sells 15,000 Shares of CommScope Holding Co. (COMM) Stock
CommScope Holding Co. (NASDAQ:COMM) Director Frank M. Drendel sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $31.02, for a total value of $465,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Frank M. Drendel also recently made the following trade(s):
- On Monday, September 19th, Frank M. Drendel sold 30,000 shares of CommScope Holding stock. The stock was sold at an average price of $31.22, for a total value of $936,600.00.
Shares of CommScope Holding Co. (NASDAQ:COMM) opened at 31.62 on Friday. The firm has a 50-day moving average price of $30.07 and a 200-day moving average price of $29.81. CommScope Holding Co. has a 52-week low of $19.37 and a 52-week high of $33.54. The stock’s market capitalization is $6.09 billion.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The business’s revenue was up 50.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. On average, analysts predict that CommScope Holding Co. will post $2.50 EPS for the current year.
Several research analysts have issued reports on the company. Zacks Investment Research lowered CommScope Holding from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Morgan Stanley assumed coverage on CommScope Holding in a report on Tuesday, September 20th. They issued an “equal weight” rating and a $35.00 price target on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $35.00 price target on shares of CommScope Holding in a report on Monday, September 19th. Jefferies Group reissued a “buy” rating and issued a $38.00 price objective on shares of CommScope Holding in a research note on Thursday, September 15th. Finally, TheStreet raised CommScope Holding from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.07.
A number of hedge funds have recently bought and sold shares of COMM. Societe Generale purchased a new stake in CommScope Holding during the second quarter valued at $100,000. Acrospire Investment Management LLC boosted its stake in CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock valued at $102,000 after buying an additional 2,000 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in CommScope Holding during the second quarter valued at $126,000. US Bancorp DE boosted its stake in CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock valued at $141,000 after buying an additional 2,160 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in CommScope Holding during the second quarter valued at $208,000.
CommScope Holding Company Profile
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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