CommScope (NASDAQ:COMM) Trading Down 17.7% – Should You Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price was down 17.7% during mid-day trading on Thursday . The stock traded as low as $4.67 and last traded at $4.44. Approximately 1,123,818 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 4,641,323 shares. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COMM. JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price objective on shares of CommScope in a research report on Thursday, February 27th. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, CommScope presently has an average rating of “Hold” and a consensus target price of $4.75.

CommScope Stock Performance

The business’s 50 day moving average price is $5.24 and its 200-day moving average price is $5.47. The company has a market cap of $783.95 million, a price-to-earnings ratio of -0.82, a PEG ratio of 0.41 and a beta of 1.98.

Hedge Funds Weigh In On CommScope

A number of hedge funds have recently modified their holdings of COMM. BNP Paribas Financial Markets grew its position in CommScope by 415.0% in the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after acquiring an additional 151,640 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CommScope by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after purchasing an additional 542,794 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of CommScope in the 3rd quarter worth about $894,000. State Street Corp increased its position in shares of CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after purchasing an additional 387,466 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in CommScope by 130.6% during the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock valued at $238,000 after purchasing an additional 25,855 shares during the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

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.