Alyeska Investment Group L.P. Takes $27.22 Million Position in Commscope Holding Company Inc (COMM)
Alyeska Investment Group L.P. purchased a new stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 819,615 shares of the communications equipment provider’s stock, valued at approximately $27,219,000. Alyeska Investment Group L.P. owned approximately 0.43% of Commscope at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of COMM. LS Investment Advisors LLC purchased a new position in shares of Commscope in the second quarter worth about $114,000. Krilogy Financial LLC increased its stake in shares of Commscope by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 170 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Commscope by 76.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 2,064 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Commscope in the second quarter worth about $216,000. Finally, Taurus Asset Management LLC purchased a new position in shares of Commscope in the third quarter worth about $222,000.
Shares of Commscope Holding Company Inc (COMM) opened at $37.91 on Friday. The firm has a market cap of $7,136.41, a P/E ratio of 17.32, a PEG ratio of 2.92 and a beta of 1.20. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 2.93. Commscope Holding Company Inc has a 1-year low of $30.95 and a 1-year high of $42.75.
Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS. research analysts predict that Commscope Holding Company Inc will post 2.01 earnings per share for the current year.
In related news, insider Marvin S. Edwards, Jr. sold 50,000 shares of Commscope stock in a transaction on Monday, December 4th. The shares were sold at an average price of $36.45, for a total value of $1,822,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.33% of the stock is owned by insiders.
Several research firms have recently weighed in on COMM. ValuEngine upgraded shares of Commscope from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup boosted their price objective on shares of Commscope from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Northland Securities set a $28.00 price objective on shares of Commscope and gave the company a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research raised shares of Commscope from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday, October 19th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Commscope in a research note on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.30.
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Commscope 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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