Short Interest in CommScope Holding Company, Inc. (NASDAQ:COMM) Increases By 26.9%

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 14,050,000 shares, a growth of 26.9% from the March 15th total of 11,070,000 shares. Approximately 6.7% of the company’s shares are sold short. Based on an average daily volume of 5,430,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

COMM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $4.75.

CommScope Trading Down 10.2 %

Shares of CommScope stock traded down $0.34 on Monday, hitting $2.99. 1,541,974 shares of the company traded hands, compared to its average volume of 4,878,404. The firm’s 50-day simple moving average is $4.89 and its 200 day simple moving average is $5.25. CommScope has a 12-month low of $0.86 and a 12-month high of $7.19. The company has a market cap of $647.52 million, a P/E ratio of -0.68, a P/E/G ratio of 0.41 and a beta of 1.98.

Hedge Funds Weigh In On CommScope

A number of large investors have recently bought and sold shares of the stock. State Street Corp lifted its position in CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after acquiring an additional 387,466 shares during the period. Geode Capital Management LLC grew its position in CommScope by 3.1% during the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after buying an additional 155,166 shares during the period. Franklin Resources Inc. bought a new position in CommScope in the 3rd quarter worth $755,000. JPMorgan Chase & Co. raised its stake in shares of CommScope by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after buying an additional 542,794 shares during the period. Finally, Diversified Trust Co boosted its position in shares of CommScope by 11.1% in the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after purchasing an additional 4,827 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.