Makaira Partners LLC grew its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 5.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,022,247 shares of the communications equipment provider’s stock after buying an additional 102,318 shares during the period. CommScope Holding makes up about 10.0% of Makaira Partners LLC’s investment portfolio, making the stock its 5th largest holding. Makaira Partners LLC owned about 1.05% of CommScope Holding worth $76,906,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of COMM. Nomura Asset Management Co. Ltd. raised its holdings in shares of CommScope Holding by 6.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after purchasing an additional 160 shares during the last quarter. LS Investment Advisors LLC purchased a new position in shares of CommScope Holding during the second quarter valued at approximately $114,000. Financial Architects Inc raised its holdings in shares of CommScope Holding by 9.8% during the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after purchasing an additional 322 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of CommScope Holding by 76.3% during the second 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 last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of CommScope Holding during the first quarter valued at approximately $209,000.
In other CommScope Holding news, Director Timothy T. Yates purchased 5,000 shares of CommScope Holding stock in a transaction on Tuesday, August 8th. The stock was bought at an average cost of $32.62 per share, with a total value of $163,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claudius E. Iv Watts purchased 15,000 shares of CommScope Holding stock in a transaction on Monday, August 7th. The shares were acquired at an average cost of $32.87 per share, with a total value of $493,050.00. The disclosure for this purchase can be found here. Company insiders own 3.33% of the company’s stock.
TRADEMARK VIOLATION WARNING: “CommScope Holding Company, Inc. (COMM) Shares Bought by Makaira Partners LLC” was originally posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://transcriptdaily.com/2017/10/08/commscope-holding-company-inc-comm-shares-bought-by-makaira-partners-llc.html.
Shares of CommScope Holding Company, Inc. (COMM) traded up 0.30% during mid-day trading on Friday, reaching $33.40. 852,729 shares of the company traded hands. The firm has a 50-day moving average price of $33.16 and a 200 day moving average price of $36.58. CommScope Holding Company, Inc. has a 52 week low of $29.91 and a 52 week high of $42.75. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 27.88 and a beta of 1.18.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.05). CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts anticipate that CommScope Holding Company, Inc. will post $2.22 earnings per share for the current year.
CommScope Holding declared that its board has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have recently weighed in on COMM shares. Zacks Investment Research raised shares of CommScope Holding from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating and set a $43.00 price objective on shares of CommScope Holding in a report on Friday, July 14th. Morgan Stanley raised shares of CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective for the company in a report on Thursday, August 17th. BidaskClub cut shares of CommScope Holding from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Northland Securities reissued a “hold” rating and set a $30.00 price objective on shares of CommScope Holding in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.20.
CommScope Holding 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.
Receive News & Ratings for CommScope Holding Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommScope Holding Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.