CommScope (NASDAQ:COMM) Shares Down 4.6%

CommScope Holding Company, Inc. (NASDAQ:COMM) dropped 4.6% during trading on Tuesday . The company traded as low as $4.16 and last traded at $4.19. Approximately 454,376 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,039,104 shares. The stock had previously closed at $4.39.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COMM. Northland Securities raised their target price on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.75.

CommScope Trading Down 1.4 %

The business has a 50 day moving average of $2.14 and a 200-day moving average of $1.63. The firm has a market capitalization of $919.16 million, a P/E ratio of -0.47, a PEG ratio of 1.91 and a beta of 2.08.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, analysts anticipate that CommScope Holding Company, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC grew its position in CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 18,722 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 25,212 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of CommScope by 55.3% in the 4th quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 6,949 shares in the last quarter. Stoneridge Investment Partners LLC increased its position in shares of CommScope by 30.4% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock valued at $67,000 after acquiring an additional 5,553 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in CommScope by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 4,978 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.