CommScope Holding Company Inc (NASDAQ: COMM) stock jumped 0.53% on Monday to $1.91 against a previous-day closing price of $1.90. With 3.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.23 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $1.9600 whereas the lowest price it dropped to was $1.8300. The 52-week range on COMM shows that it touched its highest point at $9.34 and its lowest point at $1.34 during that stretch. It currently has a 1-year price target of $2.15. Beta for the stock currently stands at 2.05.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of COMM was up-trending over the past week, with a rise of 38.41%, but this was down by -19.07% over a month. Three-month performance dropped to -46.50% while six-month performance fell -54.74%. The stock lost -78.64% in the past year, while it has lost -74.01% so far this year. A look at the trailing 12-month EPS for COMM yields -9.98 with Next year EPS estimates of 0.77. For the next quarter, that number is 0.05. This implies an EPS growth rate of -56.87% for this year and 8.14% for next year.
Float and Shares Shorts:
At present, 208.37 million COMM shares are outstanding with a float of 204.88 million shares on hand for trading. On Oct 30, 2023, short shares totaled 13.92 million, which was 6.56% higher than short shares on Sep 28, 2023. In addition to Mr. Charles L. Treadway as the firm’s President, CEO & Director, Mr. Kyle D. Lorentzen serves as its Executive VP & CFO.
Institutional Ownership:
Through their ownership of 90.33% of COMM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.62% of COMM, in contrast to 39.34% held by mutual funds. Shares owned by individuals account for 13.02%. As the largest shareholder in COMM with 17.12% of the stake, The Vanguard Group, Inc. holds 36,283,862 shares worth 36,283,862. A second-largest stockholder of COMM, FPR Partners LLC, holds 21,164,018 shares, controlling over 9.99% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in COMM, holding 14,091,954 shares or 6.65% stake. With a 3.79% stake in COMM, the First Trust Dow Jones Internet In is the largest stakeholder. A total of 8,023,953 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of COMM stock, is the second-largest Mutual Fund holder. It holds 6,269,922 shares valued at 9.28 million. Vanguard Small Cap Index Fund holds 2.44% of the stake in COMM, owning 5,173,811 shares worth 7.66 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COMM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With COMM analysts setting a high price target of $3.00 and a low target of $1.75, the average target price over the next 12 months is $2.15. Based on these targets, COMM could surge 57.07% to reach the target high and fall by -8.38% to reach the target low. Reaching the average price target will result in a growth of 12.57% from current levels.
Summary of Insider Activity:
Insiders traded COMM stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 20,000 shares were bought while 65,584 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 2,645,319 while 245,511 shares were sold.
