Chieftain Capital Management Lowers stake in Commscope Holding Company Inc (COMM)

Commscope Holding Company Inc (COMM) : Chieftain Capital Management reduced its stake in Commscope Holding Company Inc by 0.36% during the most recent quarter end. The investment management company now holds a total of 15,300,015 shares of Commscope Holding Company Inc which is valued at $533,205,523 after selling 55,099 shares in Commscope Holding Company Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Commscope Holding Company Inc makes up approximately 28.51% of Chieftain Capital Management’s portfolio.

Other Hedge Funds, Including , Signaturefd boosted its stake in COMM in the latest quarter, The investment management firm added 122 additional shares and now holds a total of 11,422 shares of Commscope Holding Company Inc which is valued at $398,057. Commscope Holding Company Inc makes up approx 0.06% of Signaturefd’s portfolio.Corsair Capital Management reduced its stake in COMM by selling 104,278 shares or 21.87% in the most recent quarter. The Hedge Fund company now holds 372,513 shares of COMM which is valued at $12,706,418. Commscope Holding Company Inc makes up approx 2.04% of Corsair Capital Management’s portfolio.Airain Ltd reduced its stake in COMM by selling 61,007 shares or 65.14% in the most recent quarter. The Hedge Fund company now holds 32,646 shares of COMM which is valued at $1,073,400. Commscope Holding Company Inc makes up approx 0.07% of Airain Ltd’s portfolio. Mai Capital Management added COMM to its portfolio by purchasing 9,700 company shares during the most recent quarter which is valued at $300,797. Commscope Holding Company Inc makes up approx 0.02% of Mai Capital Management’s portfolio.

Commscope Holding Company Inc opened for trading at $35 and hit $35.7 on the upside on Monday, eventually ending the session at $35.45, with a gain of 1.29% or 0.45 points. The heightened volatility saw the trading volume jump to 25,79,120 shares. Company has a market cap of $6,839 M.

On the company’s financial health, Commscope Holding Company Inc reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.72. The company had revenue of $1293.90 million for the quarter, compared to analysts expectations of $1290.90 million. The company’s revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on Commscope Holding Company Inc. Morgan Stanley Initiated Commscope Holding Company Inc on Sep 20, 2016 to “Equal-Weight”, Price Target of the shares are set at $35.

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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