Boothbay Fund Management LLC Buys 65,185 Shares of Commscope Holding Company Inc (COMM)
Boothbay Fund Management LLC raised its holdings in Commscope Holding Company Inc (NASDAQ:COMM) by 743.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,952 shares of the communications equipment provider’s stock after purchasing an additional 65,185 shares during the quarter. Boothbay Fund Management LLC’s holdings in Commscope were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. LS Investment Advisors LLC bought a new position in Commscope in the 2nd quarter valued at $114,000. Krilogy Financial LLC grew its stake in Commscope by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 170 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in Commscope by 76.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock valued at $181,000 after purchasing an additional 2,064 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Commscope in the 2nd quarter valued at $216,000. Finally, Taurus Asset Management LLC bought a new position in Commscope in the 3rd quarter valued at $222,000.
COMM has been the subject of several research reports. Morgan Stanley upgraded Commscope from an “equal weight” rating to an “overweight” rating and set a $38.00 price target for the company in a research note on Thursday, August 17th. Citigroup increased their price target on Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Northland Securities reiterated a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Jefferies Group reiterated a “buy” rating and set a $40.00 price target on shares of Commscope in a research note on Wednesday, September 20th. Finally, Zacks Investment Research upgraded Commscope from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.30.
Commscope Holding Company Inc (NASDAQ:COMM) opened at $36.88 on Thursday. The firm has a market capitalization of $6,979.98, a price-to-earnings ratio of 16.94, a PEG ratio of 2.85 and a beta of 1.20. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78. Commscope Holding Company Inc has a 12 month low of $30.95 and a 12 month high of $42.75.
Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Commscope had a return on equity of 29.11% and a net margin of 4.21%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 EPS. research analysts forecast that Commscope Holding Company Inc will post 2.01 earnings per share for the current fiscal year.
In related news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $36.45, for a total transaction of $1,822,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.33% of the company’s stock.
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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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