CommScope (NASDAQ:COMM) Sees Unusually-High Trading Volume

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) saw an uptick in trading volume on Tuesday . 1,704,072 shares traded hands during trading, a decline of 55% from the previous session’s volume of 3,772,076 shares.The stock last traded at $2.53 and had previously closed at $2.31.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of CommScope from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.00.

CommScope Stock Up 3.9 %

The firm has a market capitalization of $509.47 million, a PE ratio of -0.29 and a beta of 2.09. The stock’s fifty day simple moving average is $1.41 and its 200 day simple moving average is $1.50.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.14. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.04 billion. On average, analysts predict that CommScope Holding Company, Inc. will post -0.17 EPS for the current year.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of CommScope by 8.0% in the third quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock worth $124,578,000 after purchasing an additional 2,745,209 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of CommScope by 76.4% in the fourth quarter. SG Americas Securities LLC now owns 50,480 shares of the communications equipment provider’s stock worth $142,000 after purchasing an additional 21,869 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of CommScope by 14.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 970,716 shares of the communications equipment provider’s stock worth $2,737,000 after purchasing an additional 124,037 shares in the last quarter. Howland Capital Management LLC increased its stake in shares of CommScope by 93.7% in the fourth quarter. Howland Capital Management LLC now owns 82,700 shares of the communications equipment provider’s stock worth $233,000 after purchasing an additional 40,000 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of CommScope by 264.9% in the fourth quarter. International Assets Investment Management LLC now owns 172,161 shares of the communications equipment provider’s stock worth $485,000 after purchasing an additional 124,986 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.