Principal Financial Group Inc. lowered its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Free Report) by 19.6% during the fourth quarter, Holdings Channel reports. The fund owned 11,847 shares of the communications equipment provider’s stock after selling 2,882 shares during the quarter. Principal Financial Group Inc.’s holdings in CommScope were worth $62,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in COMM. BNP Paribas Financial Markets raised its holdings in shares of CommScope by 415.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after buying an additional 151,640 shares during the period. JPMorgan Chase & Co. grew its position in shares of CommScope by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after acquiring an additional 542,794 shares in the last quarter. Monarch Alternative Capital LP acquired a new position in shares of CommScope in the 3rd quarter worth approximately $16,623,000. Point72 Asset Management L.P. acquired a new position in CommScope during the 3rd quarter valued at approximately $894,000. Finally, State Street Corp boosted its position in CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after purchasing an additional 387,466 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.
CommScope Trading Down 4.8 %
Shares of COMM stock opened at $5.30 on Friday. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $7.19. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -1.20, a P/E/G ratio of 0.41 and a beta of 1.90. The stock’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.38.
Analyst Upgrades and Downgrades
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.
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