Dorsal Capital Management buys $67,703,500 stake in Commscope Holding Company Inc (COMM)

Commscope Holding Company Inc (COMM) : Dorsal Capital Management scooped up 725,000 additional shares in Commscope Holding Company Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,350,000 shares of Commscope Holding Company Inc which is valued at $67,703,500.Commscope Holding Company Inc makes up approximately 5.59% of Dorsal Capital Management’s portfolio.

Other Hedge Funds, Including , Capital Research Global Investors sold out all of its stake in COMM during the most recent quarter. The investment firm sold 1,000,000 shares of COMM which is valued $28,810,000.Blackrock Institutional Trust Company N.a. boosted its stake in COMM in the latest quarter, The investment management firm added 571,805 additional shares and now holds a total of 3,555,682 shares of Commscope Holding Company Inc which is valued at $102,439,198. Commscope Holding Company Inc makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio.

Commscope Holding Company Inc opened for trading at $29.55 and hit $29.87 on the upside on Thursday, eventually ending the session at $29.8, with a gain of 0.78% or 0.23 points. The heightened volatility saw the trading volume jump to 9,68,349 shares. Company has a market cap of $5,741 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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