Walleye Capital LLC Purchases 363,169 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Walleye Capital LLC lifted its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 132.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 636,802 shares of the communications equipment provider’s stock after buying an additional 363,169 shares during the quarter. Walleye Capital LLC’s holdings in CommScope were worth $3,891,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of CommScope in the 2nd quarter worth $144,000. XTX Topco Ltd boosted its position in shares of CommScope by 263.1% during the second quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after buying an additional 143,654 shares during the last quarter. Marathon Asset Management LP raised its position in CommScope by 75.0% in the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after buying an additional 750,000 shares during the last quarter. Point72 DIFC Ltd bought a new position in CommScope during the 2nd quarter valued at about $140,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of CommScope during the 3rd quarter valued at about $1,139,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on COMM. Northland Securities boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Morgan Stanley boosted their target price on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, CommScope presently has a consensus rating of “Hold” and an average target price of $2.50.

CommScope Stock Up 1.9 %

Shares of CommScope stock opened at $4.86 on Tuesday. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19. The stock’s 50-day simple moving average is $5.67 and its 200-day simple moving average is $3.65. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -1.10 and a beta of 2.09.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

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.