Overbrook Management Corp reduced its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 525,722 shares of the communications equipment provider’s stock after selling 11,624 shares during the quarter. CommScope Holding comprises about 4.3% of Overbrook Management Corp’s portfolio, making the stock its 8th biggest position. Overbrook Management Corp owned approximately 0.27% of CommScope Holding worth $19,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in CommScope Holding by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 15,659,544 shares of the communications equipment provider’s stock worth $653,159,000 after buying an additional 920,612 shares during the period. BlackRock Inc. raised its stake in CommScope Holding by 13,901.6% during the 1st quarter. BlackRock Inc. now owns 12,836,653 shares of the communications equipment provider’s stock worth $535,417,000 after buying an additional 12,744,973 shares during the period. FMR LLC raised its stake in CommScope Holding by 10.1% during the 1st quarter. FMR LLC now owns 10,577,696 shares of the communications equipment provider’s stock worth $441,196,000 after buying an additional 970,424 shares during the period. Wellington Management Group LLP raised its stake in CommScope Holding by 70.1% during the 1st quarter. Wellington Management Group LLP now owns 9,147,906 shares of the communications equipment provider’s stock worth $381,560,000 after buying an additional 3,770,507 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in CommScope Holding by 54.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock worth $315,936,000 after buying an additional 2,930,632 shares during the period.

Several analysts have recently commented on COMM shares. Jefferies Group LLC reissued a “buy” rating and issued a $43.00 price objective on shares of CommScope Holding in a research note on Friday, July 14th. Barclays PLC downgraded CommScope Holding from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $41.00 to $36.00 in a research note on Friday, August 4th. Zacks Investment Research downgraded CommScope Holding from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Longbow Research downgraded CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Finally, TheStreet raised CommScope Holding from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $41.73.

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CommScope Holding Company, Inc. (NASDAQ:COMM) traded down 0.65% during trading on Wednesday, hitting $33.85. The stock had a trading volume of 316,080 shares. The stock’s 50-day moving average price is $33.63 and its 200-day moving average price is $37.33. CommScope Holding Company, Inc. has a 1-year low of $29.21 and a 1-year high of $42.75. The company has a market capitalization of $6.53 billion, a P/E ratio of 28.26 and a beta of 1.19.

CommScope Holding (NASDAQ:COMM) last released its earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (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 business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. CommScope Holding’s revenue for the quarter was down 10.2% on a year-over-year basis. Analysts expect that CommScope Holding Company, Inc. will post $2.22 earnings per share for the current year.

CommScope Holding declared that its Board of Directors has authorized a share repurchase program on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other CommScope Holding news, Director Claudius E. Iv Watts bought 15,000 shares of the stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $32.87 per share, for a total transaction of $493,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy T. Yates bought 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by company insiders.

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

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