BNP Paribas Financial Markets Buys 151,640 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

BNP Paribas Financial Markets grew its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 415.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,182 shares of the communications equipment provider’s stock after purchasing an additional 151,640 shares during the period. BNP Paribas Financial Markets’ holdings in CommScope were worth $1,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COMM. Assenagon Asset Management S.A. purchased a new position in shares of CommScope during the 3rd quarter valued at about $11,023,000. Bank of Montreal Can purchased a new position in shares of CommScope during the third quarter worth approximately $7,023,000. Acadian Asset Management LLC boosted its stake in shares of CommScope by 319.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after purchasing an additional 953,171 shares in the last quarter. Millennium Management LLC grew its holdings in shares of CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares during the last quarter. Finally, Marathon Asset Management LP grew its holdings in shares of CommScope by 75.0% during the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after purchasing an additional 750,000 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CommScope Trading Down 0.9 %

COMM stock opened at $5.26 on Tuesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -1.19 and a beta of 1.96. The firm’s 50-day moving average price is $5.57 and its two-hundred day moving average price is $3.79. CommScope Holding Company, Inc. has a 12-month low of $0.86 and a 12-month high of $7.19.

CommScope (NASDAQ:COMM) last released its quarterly earnings results 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). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts predict that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

CommScope Company 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.