CommScope (NASDAQ:COMM) Shares Cross Below 200 Day Moving Average of $2.01

CommScope Holding Company, Inc. (NASDAQ:COMM) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.01 and traded as low as $1.00. CommScope shares last traded at $1.00, with a volume of 2,517,925 shares.

Analyst Ratings Changes

COMM has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Northland Securities reaffirmed a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. StockNews.com lowered shares of CommScope from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, Bank of America lowered their price objective on CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, CommScope presently has a consensus rating of “Hold” and a consensus price target of $4.27.

CommScope Stock Performance

The firm has a market cap of $210.14 million, a PE ratio of -0.14 and a beta of 1.98. The firm has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $2.00.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Equities analysts forecast that CommScope Holding Company, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity at CommScope

In other CommScope news, Director L William Krause acquired 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average cost of $1.59 per share, with a total value of $91,107.00. Following the completion of the acquisition, the director now directly owns 227,873 shares in the company, valued at approximately $362,318.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of CommScope by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 808,218 shares of the communications equipment provider’s stock worth $6,367,000 after buying an additional 43,072 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in CommScope by 48.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 137,200 shares of the communications equipment provider’s stock worth $1,081,000 after purchasing an additional 44,800 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of CommScope during the 1st quarter valued at $51,000. MetLife Investment Management LLC purchased a new stake in shares of CommScope during the 1st quarter valued at $102,000. Finally, BlackRock Inc. boosted its position in shares of CommScope by 22.1% in the 1st quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock worth $111,616,000 after purchasing an additional 2,560,861 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.