Jacobs Levy Equity Management Inc. Boosts Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Jacobs Levy Equity Management Inc. lifted its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 10.9% during the 1st quarter, HoldingsChannel reports. The firm owned 4,678,037 shares of the communications equipment provider’s stock after acquiring an additional 461,264 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in CommScope were worth $6,128,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in shares of CommScope by 55.3% during the fourth quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 6,949 shares in the last quarter. Stoneridge Investment Partners LLC boosted its position in shares of CommScope by 30.4% during the fourth quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock valued at $67,000 after purchasing an additional 5,553 shares in the last quarter. Headlands Technologies LLC boosted its holdings in CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 18,722 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 25,212 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of CommScope by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after purchasing an additional 4,978 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors.

CommScope Stock Up 10.0 %

CommScope stock traded up $0.23 during midday trading on Tuesday, reaching $2.54. 7,693,324 shares of the stock traded hands, compared to its average volume of 3,813,414. The stock’s fifty day moving average is $1.41 and its 200-day moving average is $1.50. CommScope Holding Company, Inc. has a 12 month low of $0.86 and a 12 month high of $4.64. The stock has a market cap of $539.19 million, a P/E ratio of -0.29 and a beta of 2.09.

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

Analyst Ratings Changes

A number of research firms recently commented on COMM. StockNews.com cut CommScope from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, CommScope has a consensus rating of “Hold” and a consensus price target of $2.75.

CommScope 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.