Highland Peak Capital LLC Acquires Shares of 560,482 CommScope Holding Company, Inc. (NASDAQ:COMM)

Highland Peak Capital LLC bought a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 560,482 shares of the communications equipment provider’s stock, valued at approximately $689,000. CommScope accounts for 0.2% of Highland Peak Capital LLC’s holdings, making the stock its 18th largest holding. Highland Peak Capital LLC owned approximately 0.26% of CommScope as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in CommScope by 22.0% in the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 4,978 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CommScope by 28.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock worth $16,330,000 after acquiring an additional 1,280,636 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings 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 valued at $971,000 after purchasing an additional 20,914 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CommScope by 31.3% during the 4th quarter. Principal Financial Group Inc. now owns 142,964 shares of the communications equipment provider’s stock worth $403,000 after purchasing an additional 34,080 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in CommScope by 44.8% during the 4th quarter. Brown Advisory Inc. now owns 401,000 shares of the communications equipment provider’s stock worth $1,131,000 after purchasing an additional 123,974 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Trading Up 7.1 %

Shares of CommScope stock opened at $5.71 on Tuesday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -0.65, a PEG ratio of 0.23 and a beta of 2.07. The business’s 50 day simple moving average is $3.13 and its 200-day simple moving average is $1.89. CommScope Holding Company, Inc. has a twelve month low of $0.86 and a twelve month high of $5.73.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $0.14 EPS. The business’s revenue was down 12.7% compared to the same quarter last year. Sell-side analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, 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 note on Monday, August 12th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1.75.

CommScope 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.