The Vanguard Group, Inc. recently announced the acquisition of new stake in CommScope Holding Company Inc (NASDAQ:COMM). The institutional investor has increased its shareholding in the Technology company by 8.36% to 36.28 million shares with purchase of 2.8 million shares. This fresh investment now brings its stake to 17.11% valued currently at $60.59 million. In addition, FPR Partners LLC raised its holdings by 0.21 million to 21.16 million shares. And BlackRock Fund Advisors has lifted its position by 0.27% or 38318.0 shares – to 14.09 million shares.
Currently, there are 208.37M common shares owned by the public and among those 204.64M shares have been available to trade.
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Insiders at the company have transacted a total of 62 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 41 of these insider trades were purchases, accounting for 2,878,338 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 235,188 shares.
The top 3 mutual fund holders in CommScope Holding Company Inc are First Trust Dow Jones Internet In, Vanguard Total Stock Market ETF, and Vanguard Strategic Equity Fund. First Trust Dow Jones Internet In owns 8.06 million shares of the company’s stock, all valued at over $13.46 million. The company sold 12880.0 shares recently to bring their total holdings to about 3.80% of the shares outstanding. Vanguard Strategic Equity Fund bought 0.73 million shares to bring its total holdings to over 5.24 million shares at a value of $8.74 million. Vanguard Strategic Equity Fund now owns shares totaling to 2.47% of the shares outstanding.
However, the script later moved the day high at 2.5590, up 2.06%. The company’s stock has a 5-day price change of 18.66% and -25.08% over the past three months. COMM shares are trading -66.26% year to date (YTD), with the 12-month market performance down to -66.62% lower. It has a 12-month low price of $1.34 and touched a high of $9.34 over the same period. COMM has an average intraday trading volume of 3.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 26.89%, 24.15%, and -37.82% respectively.
Institutional ownership of CommScope Holding Company Inc (NASDAQ: COMM) shares accounts for 88.43% of the company’s 208.37M shares outstanding. Mutual fund holders own 39.04%, while other institutional holders and individual stakeholders account for 49.66% and 13.13% respectively.
It has a market capitalization of $525.91M and a beta (3y monthly) value of 2.12. The earnings-per-share (ttm) stands at -$9.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.65% over the week and 8.83% over the month.
Analysts forecast that CommScope Holding Company Inc (COMM) will achieve an EPS of $0.06 for the current quarter, $0.06 for the next quarter and $0.8 for 2024. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -56.87%, and 8.14% over the next financial year.
