CommScope Holding Company, Inc. $COMM Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 127.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,382,576 shares of the communications equipment provider’s stock after purchasing an additional 775,987 shares during the quarter. Allianz Asset Management GmbH’s holdings in CommScope were worth $21,402,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AlphaQuest LLC acquired a new stake in shares of CommScope during the 3rd quarter worth about $36,000. Bayforest Capital Ltd purchased a new position in CommScope during the third quarter worth about $38,000. Harbor Capital Advisors Inc. acquired a new stake in shares of CommScope during the third quarter valued at about $43,000. Wolff Wiese Magana LLC purchased a new stake in shares of CommScope in the 3rd quarter valued at approximately $46,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of CommScope in the 3rd quarter worth approximately $51,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COMM. Bank of America boosted their target price on CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Zacks Research downgraded CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Northland Securities set a $25.00 price target on shares of CommScope in a research note on Friday, October 31st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.40.

CommScope Price Performance

COMM opened at $19.41 on Friday. The business has a fifty day moving average price of $18.97 and a 200 day moving average price of $16.62. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $20.55. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.85 and a beta of 2.39.

CommScope Company Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.