Stevens Capital Management LP Invests $585,000 in CommScope Holding Co (COMM)

Stevens Capital Management LP bought a new position in shares of CommScope Holding Co (NASDAQ:COMM) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,634 shares of the communications equipment provider’s stock, valued at approximately $585,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lyrical Asset Management LP grew its stake in shares of CommScope by 4.7% during the fourth quarter. Lyrical Asset Management LP now owns 4,804,941 shares of the communications equipment provider’s stock worth $181,771,000 after purchasing an additional 213,599 shares during the period. Franklin Resources Inc. grew its stake in shares of CommScope by 184.1% during the fourth quarter. Franklin Resources Inc. now owns 4,323,429 shares of the communications equipment provider’s stock worth $163,574,000 after purchasing an additional 2,801,866 shares during the period. Rivulet Capital LLC grew its stake in shares of CommScope by 14.9% during the fourth quarter. Rivulet Capital LLC now owns 3,731,283 shares of the communications equipment provider’s stock worth $141,154,000 after purchasing an additional 484,700 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of CommScope during the fourth quarter worth $75,894,000. Finally, Criterion Capital Management LLC grew its stake in shares of CommScope by 152.4% during the first quarter. Criterion Capital Management LLC now owns 1,750,758 shares of the communications equipment provider’s stock worth $69,978,000 after purchasing an additional 1,056,996 shares during the period.

CommScope opened at $28.95 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 2.53. The stock has a market cap of $5.59 billion, a PE ratio of 14.33, a PEG ratio of 1.36 and a beta of 1.06. CommScope Holding Co has a fifty-two week low of $26.29 and a fifty-two week high of $41.60.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Tuesday, May 1st. The communications equipment provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. CommScope had a return on equity of 24.08% and a net margin of 4.27%. CommScope’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. equities research analysts anticipate that CommScope Holding Co will post 2.26 EPS for the current fiscal year.

A number of equities research analysts recently commented on COMM shares. BidaskClub cut CommScope from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Longbow Research raised CommScope from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Barclays raised CommScope from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $42.00 to $43.00 in a research note on Wednesday, February 14th. Northland Securities reissued a “hold” rating and issued a $33.00 target price on shares of CommScope in a research note on Friday, February 16th. Finally, Zacks Investment Research raised CommScope from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $39.20.

In related news, COO Morgan C. S. Kurk bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The shares were acquired at an average price of $29.43 per share, for a total transaction of $29,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert W. Granow bought 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were bought at an average price of $28.63 per share, for a total transaction of $42,945.00. The disclosure for this purchase can be found here. Insiders have bought 32,418 shares of company stock valued at $919,187 over the last ninety days. 3.33% of the stock is owned by insiders.

About CommScope

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.

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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