Rhumbline Advisers Grows Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Rhumbline Advisers lifted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 23.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,323 shares of the communications equipment provider’s stock after purchasing an additional 65,605 shares during the period. Rhumbline Advisers owned about 0.16% of CommScope worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of COMM. SummerHaven Investment Management LLC grew its stake in CommScope by 10.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock valued at $158,000 after acquiring an additional 12,017 shares in the last quarter. Allianz Asset Management GmbH grew its stake in CommScope by 1.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,050,655 shares of the communications equipment provider’s stock valued at $2,963,000 after acquiring an additional 12,578 shares in the last quarter. Headlands Technologies LLC grew its stake in CommScope by 357.9% during the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 18,722 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of CommScope by 6.5% in the 4th quarter. BNP Paribas Financial Markets now owns 344,412 shares of the communications equipment provider’s stock valued at $971,000 after buying an additional 20,914 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CommScope by 15.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock valued at $248,000 after buying an additional 24,523 shares during the period. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COMM shares. Northland Securities increased their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1.75.

CommScope Price Performance

Shares of NASDAQ COMM opened at $6.00 on Friday. The company has a market cap of $1.27 billion, a PE ratio of -0.68, a price-to-earnings-growth ratio of 0.28 and a beta of 2.08. CommScope Holding Company, Inc. has a 12 month low of $0.86 and a 12 month high of $6.75. The company has a 50-day simple moving average of $3.78 and a 200-day simple moving average of $2.13.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) 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 business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. CommScope’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

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.