Overbrook Management Corp Lowers stake in Commscope Holding Company Inc (COMM)

Commscope Holding Company Inc (COMM) : Overbrook Management Corp reduced its stake in Commscope Holding Company Inc by 12.53% during the most recent quarter end. The investment management company now holds a total of 1,196,177 shares of Commscope Holding Company Inc which is valued at $34,461,859 after selling 171,399 shares in Commscope Holding Company Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Commscope Holding Company Inc makes up approximately 6.81% of Overbrook Management Corp’s portfolio.

Other Hedge Funds, Including , Hightower Advisors reduced its stake in COMM by selling 27,484 shares or 52.92% in the most recent quarter. The Hedge Fund company now holds 24,454 shares of COMM which is valued at $704,520. Commscope Holding Company Inc makes up approx 0.01% of Hightower Advisors’s portfolio.Victory Capital Management Inc reduced its stake in COMM by selling 175,038 shares or 24.5% in the most recent quarter. The Hedge Fund company now holds 539,347 shares of COMM which is valued at $15,392,963. Commscope Holding Company Inc makes up approx 0.06% of Victory Capital Management Inc’s portfolio.Corsair Capital Management reduced its stake in COMM by selling 129,425 shares or 21.35% in the most recent quarter. The Hedge Fund company now holds 476,791 shares of COMM which is valued at $13,607,615. Commscope Holding Company Inc makes up approx 2.02% of Corsair Capital Management’s portfolio.Advisors Asset Management boosted its stake in COMM in the latest quarter, The investment management firm added 16,901 additional shares and now holds a total of 18,594 shares of Commscope Holding Company Inc which is valued at $530,673. Commscope Holding Company Inc makes up approx 0.01% of Advisors Asset Management’s portfolio.

Commscope Holding Company Inc opened for trading at $28.74 and hit $29.39 on the upside on Tuesday, eventually ending the session at $29.19, with a gain of 1.53% or 0.44 points. The heightened volatility saw the trading volume jump to 10,91,235 shares. Company has a market cap of $5,623 M.

On the company’s financial health, Commscope Holding Company Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.69. The company had revenue of $1306.80 million for the quarter, compared to analysts expectations of $1302.50 million. The company’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Commscope Holding Company Inc. Credit Agricole Initiated Commscope Holding Company Inc on Jun 16, 2016 to “Buy”, Price Target of the shares are set at $40.

CommScope Holding Company Inc. is provider of connectivity and infrastructure solutions for wireless business enterprise and residential broadband networks. The Company provides radio frequency (RF) solutions connectivity and cabling platforms data center and building infrastructure and broadband access solutions. The Company operates through three segments: Wireless Enterprise and Broadband. The Company’s solutions marketed primarily under the Andrew brand enable wireless operators to deploy both macro cell sites and small cell distributed antenna systems (DAS) solutions to meet coverage and capacity requirements. The Company’s enterprise connectivity solutions for data centers and commercial buildings comprises voice video data and converged solutions that support mission-critical applications. The Company provides cable and communications products that support the multichannel video voice and data services provided by multi-system operators (MSOs).

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