Stoneridge Investment Partners LLC Purchases 32,948 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Stoneridge Investment Partners LLC boosted its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 69.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,441 shares of the communications equipment provider’s stock after purchasing an additional 32,948 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in CommScope were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of CommScope by 28.4% in the 4th 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 acquiring an additional 1,280,636 shares during the last quarter. BNP Paribas Financial Markets grew its stake in CommScope by 6.5% in the fourth quarter. BNP Paribas Financial Markets now owns 344,412 shares of the communications equipment provider’s stock worth $971,000 after purchasing an additional 20,914 shares during the period. Allspring Global Investments Holdings LLC lifted its position in CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 25,212 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of CommScope during the fourth quarter valued at approximately $300,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in CommScope by 15.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock worth $248,000 after acquiring an additional 24,523 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Trading Up 2.1 %

CommScope stock opened at $5.33 on Friday. CommScope Holding Company, Inc. has a 12-month low of $0.86 and a 12-month high of $5.38. The firm has a 50-day moving average price of $3.04 and a 200-day moving average price of $1.86. The firm has a market capitalization of $1.15 billion, a PE ratio of -0.60, a price-to-earnings-growth ratio of 0.23 and a beta of 2.08.

CommScope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company 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 3.08% and a negative net margin of 31.24%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About CommScope

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.