MetLife Investment Management LLC Trims Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

MetLife Investment Management LLC lowered its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 9.4% during the third quarter, Holdings Channel reports. The fund owned 111,948 shares of the communications equipment provider’s stock after selling 11,559 shares during the quarter. MetLife Investment Management LLC’s holdings in CommScope were worth $684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of CommScope during the third quarter worth $31,000. Belvedere Trading LLC acquired a new stake in CommScope in the 3rd quarter worth about $68,000. Creative Planning purchased a new stake in CommScope in the 3rd quarter valued at about $73,000. Hanseatic Management Services Inc. acquired a new position in shares of CommScope during the 3rd quarter valued at about $76,000. Finally, Fore Capital LLC lifted its holdings in shares of CommScope by 36.5% during the 2nd quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after acquiring an additional 20,000 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Stock Down 0.6 %

CommScope stock opened at $5.31 on Friday. The firm has a market capitalization of $1.15 billion, a P/E ratio of -1.20 and a beta of 1.95. The firm has a fifty day moving average of $5.59 and a 200-day moving average of $3.74. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COMM has been the subject of several research analyst reports. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley upped their price objective on CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Northland Securities lifted their target price on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.50.

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.