Commscope Holding Company Inc (COMM) Short Interest Up 26.7% in November
Commscope Holding Company Inc (NASDAQ:COMM) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 9,077,220 shares, a growth of 26.7% from the November 15th total of 7,161,531 shares. Based on an average daily trading volume, of 1,369,526 shares, the short-interest ratio is presently 6.6 days. Approximately 4.8% of the shares of the stock are sold short.
COMM has been the topic of a number of recent analyst reports. Citigroup boosted their target price on Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Jefferies Group reaffirmed a “buy” rating and set a $40.00 target price on shares of Commscope in a research report on Thursday, October 12th. Zacks Investment Research raised Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. ValuEngine lowered Commscope from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. Finally, Northland Securities reaffirmed a “hold” rating on shares of Commscope in a research report on Friday, November 10th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.30.
Shares of Commscope (NASDAQ COMM) opened at $37.72 on Friday. The stock has a market capitalization of $7,200.00, a price-to-earnings ratio of 17.92, a PEG ratio of 3.02 and a beta of 1.20. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Commscope has a 52-week low of $30.95 and a 52-week high of $42.75.
Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Commscope had a return on equity of 29.11% and a net margin of 4.21%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Commscope’s revenue for the quarter was down 12.8% compared to the same quarter last year. research analysts anticipate that Commscope will post 2.01 EPS for the current fiscal year.
In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $36.45, for a total value of $1,822,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank M. Drendel sold 60,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $38.01, for a total value of $2,280,600.00. The disclosure for this sale can be found here. Insiders sold a total of 115,284 shares of company stock worth $4,303,945 in the last three months. Company insiders own 3.33% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Commscope by 1.2% during the second quarter. Vanguard Group Inc. now owns 15,843,334 shares of the communications equipment provider’s stock valued at $602,522,000 after buying an additional 183,790 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Commscope by 19.0% during the second quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after buying an additional 2,438,894 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Commscope by 478.2% during the second quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after buying an additional 11,994,126 shares in the last quarter. FMR LLC grew its holdings in shares of Commscope by 6.6% during the second quarter. FMR LLC now owns 11,279,906 shares of the communications equipment provider’s stock valued at $428,975,000 after buying an additional 702,210 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Commscope by 29.2% during the third quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock valued at $350,236,000 after buying an additional 2,429,290 shares in the last quarter.
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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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