Victory Capital Management Inc. Lowers Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Victory Capital Management Inc. lowered its holdings in CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,749 shares of the communications equipment provider’s stock after selling 1,297 shares during the period. Victory Capital Management Inc.’s holdings in CommScope were worth $151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COMM. SG Americas Securities LLC raised its holdings in shares of CommScope by 79.7% in the 1st quarter. SG Americas Securities LLC now owns 53,751 shares of the communications equipment provider’s stock valued at $424,000 after acquiring an additional 23,840 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of CommScope by 14.5% in the 1st quarter. Wolverine Asset Management LLC now owns 177,674 shares of the communications equipment provider’s stock valued at $1,400,000 after acquiring an additional 22,500 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of CommScope by 19.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 62,612 shares of the communications equipment provider’s stock valued at $493,000 after acquiring an additional 10,023 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of CommScope by 53.3% in the 1st quarter. New York State Common Retirement Fund now owns 273,226 shares of the communications equipment provider’s stock valued at $2,153,000 after acquiring an additional 94,992 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of CommScope by 25.9% during the 1st quarter. National Bank of Canada FI now owns 7,082 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COMM. Citigroup raised their price objective on CommScope from $6.00 to $7.00 and gave the company a “sell” rating in a report on Friday, August 5th. Credit Suisse Group raised CommScope from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $11.00 to $17.00 in a report on Tuesday, October 4th. Morgan Stanley raised their price objective on CommScope from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Tuesday, October 11th. StockNews.com began coverage on CommScope in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TheStreet raised CommScope from a “d+” rating to a “c-” rating in a report on Wednesday, October 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, CommScope currently has an average rating of “Hold” and an average price target of $10.44.

Insider Transactions at CommScope

In other CommScope news, CEO Charles L. Treadway acquired 48,076 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average cost of $10.41 per share, for a total transaction of $500,471.16. Following the transaction, the chief executive officer now owns 1,260,378 shares in the company, valued at $13,120,534.98. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

CommScope Stock Performance

Shares of COMM stock opened at $8.70 on Friday. The firm has a market cap of $1.81 billion, a P/E ratio of -5.54, a P/E/G ratio of 0.27 and a beta of 1.89. CommScope Holding Company, Inc. has a fifty-two week low of $5.56 and a fifty-two week high of $13.73. The business’s 50 day moving average price is $11.38 and its 200-day moving average price is $9.08.

CommScope Company Profile

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CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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