Insider Buying: CommScope Holding Company, Inc. (NASDAQ:COMM) CFO Acquires $14,500.00 in Stock

CommScope Holding Company, Inc. (NASDAQ:COMM) CFO Kyle David Lorentzen bought 11,600 shares of CommScope stock in a transaction dated Wednesday, March 27th. The stock was purchased at an average cost of $1.25 per share, with a total value of $14,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 712,475 shares in the company, valued at approximately $890,593.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

CommScope Stock Performance

Shares of CommScope stock opened at $1.31 on Monday. The company has a market cap of $278.03 million, a P/E ratio of -0.18 and a beta of 1.97. The firm has a fifty day moving average of $1.80 and a two-hundred day moving average of $2.19. CommScope Holding Company, Inc. has a one year low of $0.89 and a one year high of $6.65.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, equities analysts predict that CommScope Holding Company, Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of CommScope

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in CommScope by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 808,218 shares of the communications equipment provider’s stock valued at $6,367,000 after acquiring an additional 43,072 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of CommScope by 48.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 137,200 shares of the communications equipment provider’s stock valued at $1,081,000 after purchasing an additional 44,800 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CommScope in the first quarter valued at about $51,000. MetLife Investment Management LLC purchased a new stake in CommScope during the first quarter worth about $102,000. Finally, BlackRock Inc. grew its position in CommScope by 22.1% during the first quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock worth $111,616,000 after buying an additional 2,560,861 shares during the period. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COMM. Bank of America reduced their price objective on CommScope from $2.00 to $1.00 and set an “underperform” rating for the company in a research note on Wednesday, March 13th. StockNews.com cut shares of CommScope from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Northland Securities restated a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.27.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.