Bank of New York Mellon Corp Increases Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Bank of New York Mellon Corp boosted its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 7.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,194,041 shares of the communications equipment provider’s stock after acquiring an additional 87,530 shares during the period. Bank of New York Mellon Corp’s holdings in CommScope were worth $1,469,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of CommScope by 22.0% in 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 during the period. Charles Schwab Investment Management Inc. grew its stake in CommScope by 28.4% in 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 buying an additional 1,280,636 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in CommScope by 6.5% during the 4th quarter. BNP Paribas Financial Markets now owns 344,412 shares of the communications equipment provider’s stock valued at $971,000 after acquiring an additional 20,914 shares during the period. Principal Financial Group Inc. lifted its position in shares of CommScope by 31.3% during the fourth quarter. Principal Financial Group Inc. now owns 142,964 shares of the communications equipment provider’s stock worth $403,000 after acquiring an additional 34,080 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of CommScope by 44.8% in the fourth quarter. Brown Advisory Inc. now owns 401,000 shares of the communications equipment provider’s stock worth $1,131,000 after acquiring an additional 123,974 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Stock Up 7.1 %

Shares of NASDAQ COMM opened at $6.00 on Friday. The stock’s 50-day simple moving average is $3.40 and its two-hundred day simple moving average is $1.98. CommScope Holding Company, Inc. has a twelve month low of $0.86 and a twelve month high of $6.19. The firm has a market capitalization of $1.27 billion, a P/E ratio of -0.68, a P/E/G ratio of 0.23 and a beta of 2.07.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, research analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.