CommScope (NASDAQ:COMM) Trading Down 5.9%

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price dropped 5.9% on Wednesday . The company traded as low as $4.04 and last traded at $4.13. Approximately 1,158,069 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,049,339 shares. The stock had previously closed at $4.39.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Northland Securities raised their price target on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1.75.

CommScope Price Performance

The firm has a market cap of $857.60 million, a price-to-earnings ratio of -0.46, a P/E/G ratio of 1.91 and a beta of 2.08. The firm’s 50 day moving average price is $2.01 and its 200-day moving average price is $1.60.

CommScope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $1.39 billion during 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 business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. Analysts expect that CommScope Holding Company, Inc. will post 0.11 EPS for the current year.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently added to or reduced their stakes in COMM. First Trust Advisors LP increased its holdings in CommScope by 42.7% in the 4th quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock valued at $36,862,000 after buying an additional 3,911,673 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of CommScope by 28.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock valued at $16,330,000 after acquiring an additional 1,280,636 shares in the last quarter. Millennium Management LLC increased its stake in CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after acquiring an additional 840,742 shares during the period. Jacobs Levy Equity Management Inc. raised its position in CommScope by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock worth $6,128,000 after purchasing an additional 461,264 shares in the last quarter. Finally, Marathon Asset Management LP lifted its stake in CommScope by 75.0% during the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after purchasing an additional 750,000 shares during the period. 88.04% of the stock is currently owned by 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.