Commscope Holding Company Inc (NASDAQ:COMM) saw a large drop in short interest in November. As of November 29th, there was short interest totalling 12,760,000 shares, a drop of 8.8% from the November 14th total of 13,990,000 shares. Currently, 6.7% of the shares of the company are sold short. Based on an average daily volume of 3,830,000 shares, the days-to-cover ratio is presently 3.3 days.
COMM stock traded down $0.18 during trading on Friday, hitting $13.81. The company had a trading volume of 5,546,157 shares, compared to its average volume of 2,328,777. The company has a fifty day moving average price of $13.39 and a two-hundred day moving average price of $13.42. The company has a current ratio of 1.86, a quick ratio of 1.29 and a debt-to-equity ratio of 8.34. The company has a market cap of $2.55 billion, a P/E ratio of 6.55, a P/E/G ratio of 0.59 and a beta of 1.59. Commscope has a fifty-two week low of $9.52 and a fifty-two week high of $27.00.
Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.42 billion. Commscope had a positive return on equity of 27.25% and a negative net margin of 7.26%. Commscope’s quarterly revenue was up 106.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, analysts expect that Commscope will post 1.76 earnings per share for the current year.
COMM has been the topic of several recent research reports. ValuEngine raised Commscope from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. TheStreet lowered Commscope from a “c” rating to a “d” rating in a report on Friday, August 16th. Credit Suisse Group decreased their price objective on Commscope from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Rosenblatt Securities lowered Commscope from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $13.00 in a report on Tuesday, October 29th. Finally, Evercore ISI reissued a “hold” rating and set a $14.00 price objective on shares of Commscope in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.23.
In other news, Director Frank M. Drendel sold 153,877 shares of Commscope stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $14.25, for a total transaction of $2,192,747.25. 3.25% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in COMM. Amundi Pioneer Asset Management Inc. boosted its stake in Commscope by 16.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock valued at $2,109,000 after buying an additional 13,824 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Commscope in the 2nd quarter valued at $43,000. SG Americas Securities LLC acquired a new stake in Commscope in the 2nd quarter valued at $235,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Commscope by 115.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 82,410 shares of the communications equipment provider’s stock valued at $1,296,000 after buying an additional 44,100 shares in the last quarter. Finally, KBC Group NV raised its position in Commscope by 133.3% in the 2nd quarter. KBC Group NV now owns 64,807 shares of the communications equipment provider’s stock valued at $1,019,000 after purchasing an additional 37,033 shares during the last quarter.
Commscope Company Profile
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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