First Mercantile Trust Co. cut its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 50.8% during the second quarter, Holdings Channel reports. The institutional investor owned 19,029 shares of the communications equipment provider’s stock after selling 19,683 shares during the period. First Mercantile Trust Co.’s holdings in CommScope Holding were worth $724,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Utah Retirement Systems boosted its position in CommScope Holding by 0.4% in the first quarter. Utah Retirement Systems now owns 23,300 shares of the communications equipment provider’s stock valued at $972,000 after buying an additional 100 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 160 shares in the last quarter. Financial Architects Inc boosted its position in CommScope Holding by 9.8% in the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 322 shares in the last quarter. Parametrica Management Ltd boosted its position in CommScope Holding by 3.8% in the second quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock valued at $411,000 after buying an additional 396 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 439 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

CommScope Holding Company, Inc. (NASDAQ:COMM) opened at 31.93 on Friday. The firm’s 50-day moving average price is $35.90 and its 200-day moving average price is $38.12. The company has a market cap of $6.16 billion, a PE ratio of 26.65 and a beta of 1.17. CommScope Holding Company, Inc. has a one year low of $28.32 and a one year high of $42.75.

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

CommScope Holding announced that its Board of Directors has authorized a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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Several equities analysts recently issued reports on the company. Northland Securities reiterated a “hold” rating and issued a $28.00 price target on shares of CommScope Holding in a report on Thursday. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price target on shares of CommScope Holding in a report on Thursday, June 8th. Barclays PLC cut CommScope Holding from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $41.00 to $36.00 in a report on Friday, August 4th. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Finally, BidaskClub upgraded CommScope Holding from a “hold” rating to a “buy” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. CommScope Holding currently has an average rating of “Hold” and a consensus price target of $41.45.

In related news, Director Timothy T. Yates purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $32.62 per share, with a total value of $163,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Claudius E. Iv Watts purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was bought at an average cost of $36.75 per share, with a total value of $551,250.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 35,000 shares of company stock valued at $1,207,400. Insiders own 3.33% of the company’s stock.

CommScope Holding Company 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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Institutional Ownership by Quarter for CommScope Holding (NASDAQ:COMM)

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