Global Endowment Management LP lowered its stake in Commscope Holding Company Inc (NASDAQ:COMM) by 61.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,830 shares of the communications equipment provider’s stock after selling 14,200 shares during the quarter. Global Endowment Management LP’s holdings in Commscope were worth $272,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Commscope by 5.3% in the first quarter. Royal Bank of Canada now owns 35,460 shares of the communications equipment provider’s stock valued at $1,418,000 after buying an additional 1,782 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Commscope by 12.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 16,944 shares of the communications equipment provider’s stock valued at $495,000 after purchasing an additional 1,924 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. grew its stake in Commscope by 3.1% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 99,090 shares of the communications equipment provider’s stock valued at $3,048,000 after purchasing an additional 2,960 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Commscope by 1.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 341,959 shares of the communications equipment provider’s stock valued at $9,986,000 after purchasing an additional 3,219 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Commscope by 21.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 19,580 shares of the communications equipment provider’s stock valued at $571,000 after purchasing an additional 3,460 shares in the last quarter.

NASDAQ:COMM opened at $18.14 on Tuesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.80 and a current ratio of 2.44. Commscope Holding Company Inc has a 52 week low of $18.10 and a 52 week high of $41.60. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.94 and a beta of 1.23.

Commscope (NASDAQ:COMM) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). Commscope had a return on equity of 23.68% and a net margin of 4.69%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business earned $0.55 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that Commscope Holding Company Inc will post 1.97 earnings per share for the current fiscal year.

In other news, Director Claudius E. Iv Watts bought 25,000 shares of Commscope stock in a transaction on Tuesday, November 13th. The shares were bought at an average price of $19.00 per share, with a total value of $475,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert W. Granow bought 4,000 shares of Commscope stock in a transaction on Monday, November 12th. The shares were purchased at an average cost of $19.60 per share, for a total transaction of $78,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 76,500 shares of company stock worth $1,442,400. 3.35% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on COMM shares. Northland Securities set a $36.00 price objective on Commscope and gave the company a “buy” rating in a research note on Thursday, August 2nd. Cross Research upgraded Commscope from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Jefferies Financial Group lowered Commscope from a “buy” rating to a “hold” rating and lowered their price objective for the company from $35.00 to $30.50 in a research note on Monday, August 6th. Finally, Rosenblatt Securities restated a “hold” rating and set a $32.00 price objective on shares of Commscope in a research note on Sunday, August 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Commscope currently has a consensus rating of “Hold” and an average price target of $32.96.

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Commscope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

See Also: Understanding Average Daily Trade Volume

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commscope Holding Company Inc (NASDAQ:COMM).

Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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