CommScope (NASDAQ:COMM) Trading Down 5.9%

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price traded down 5.9% on Wednesday . The stock traded as low as $4.04 and last traded at $4.13. 1,158,069 shares changed hands during trading, a decline of 71% from the average session volume of 4,049,339 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

Several research firms recently commented on COMM. Northland Securities boosted their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1.75.

CommScope Price Performance

The stock’s fifty day simple moving average is $1.91 and its two-hundred day simple moving average is $1.57. The company has a market capitalization of $849.11 million, a price-to-earnings ratio of -0.46, a PEG ratio of 1.91 and a beta of 2.08.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The business’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. On average, sell-side analysts predict that CommScope Holding Company, Inc. will post 0.11 EPS for the current year.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently modified their holdings of COMM. First Trust Advisors LP lifted its position in CommScope by 42.7% in the 4th quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock valued at $36,862,000 after purchasing an additional 3,911,673 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CommScope by 28.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock valued at $16,330,000 after buying an additional 1,280,636 shares during the last quarter. Millennium Management LLC boosted its position in shares of CommScope by 19.9% during the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after buying an additional 840,742 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in CommScope by 10.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock worth $6,128,000 after buying an additional 461,264 shares in the last quarter. Finally, Marathon Asset Management LP raised its stake in CommScope by 75.0% during the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after acquiring an additional 750,000 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.