CommScope Holding Company, Inc. (NASDAQ:COMM) Short Interest Up 10.5% in December

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 9,540,000 shares, a growth of 10.5% from the December 15th total of 8,630,000 shares. Based on an average daily trading volume, of 4,260,000 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On CommScope

Institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its position in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of CommScope by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 4,466 shares during the period. Diversified Trust Co grew its holdings in shares of CommScope by 11.1% in the 4th quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after acquiring an additional 4,827 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of CommScope in the 3rd quarter worth approximately $31,000. Finally, Quarry LP grew its holdings in shares of CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 7,380 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Trading Down 0.7 %

Shares of CommScope stock traded down $0.04 on Friday, hitting $5.36. The stock had a trading volume of 2,676,848 shares, compared to its average volume of 3,716,963. CommScope has a 52-week low of $0.86 and a 52-week high of $7.19. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -1.21, a P/E/G ratio of 0.57 and a beta of 1.92. The company’s 50 day moving average price is $5.17 and its 200 day moving average price is $4.63.

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 firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that CommScope will post -0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Tuesday, January 14th. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, CommScope currently has a consensus rating of “Hold” and a consensus target price of $3.00.

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.