Renaissance Technologies LLC decreased its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Free Report) by 27.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,833,800 shares of the communications equipment provider’s stock after selling 698,144 shares during the period. Renaissance Technologies LLC’s holdings in CommScope were worth $2,256,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Stoneridge Investment Partners LLC boosted its stake in CommScope by 69.4% during the second quarter. Stoneridge Investment Partners LLC now owns 80,441 shares of the communications equipment provider’s stock valued at $99,000 after buying an additional 32,948 shares during the period. Fore Capital LLC boosted its stake in CommScope by 36.5% during the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock valued at $92,000 after buying an additional 20,000 shares during the period. Headlands Technologies LLC lifted its stake in CommScope by 350.5% during the second quarter. Headlands Technologies LLC now owns 107,915 shares of the communications equipment provider’s stock worth $133,000 after purchasing an additional 83,962 shares during the last quarter. Acadian Asset Management LLC lifted its stake in CommScope by 319.3% during the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in CommScope by 23.3% during the second quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock worth $427,000 after purchasing an additional 65,605 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.
CommScope Trading Up 2.3 %
NASDAQ COMM opened at $6.19 on Thursday. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $6.75. The stock has a 50-day moving average of $4.22 and a 200-day moving average of $2.29. The firm has a market cap of $1.31 billion, a PE ratio of -0.70, a price-to-earnings-growth ratio of 0.28 and a beta of 2.08.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on COMM shares. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Northland Securities lifted their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, CommScope has an average rating of “Hold” and an average target price of $1.75.
View Our Latest Research Report on COMM
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.
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