Public Employees Retirement Association of Colorado Sells 5,415 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Public Employees Retirement Association of Colorado decreased its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 18.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,691 shares of the communications equipment provider’s stock after selling 5,415 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CommScope were worth $30,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC grew its position in CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 18,722 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 25,212 shares during the period. Fore Capital LLC increased its stake 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 purchasing an additional 20,000 shares during the last quarter. Stoneridge Investment Partners LLC raised its holdings in shares of CommScope by 69.4% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 80,441 shares of the communications equipment provider’s stock worth $99,000 after purchasing an additional 32,948 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of CommScope in the 1st quarter worth approximately $106,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

Shares of COMM opened at $6.11 on Tuesday. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $6.75. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -0.69, a price-to-earnings-growth ratio of 0.28 and a beta of 2.08. The stock’s 50-day simple moving average is $4.04 and its 200 day simple moving average is $2.23.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. On average, research analysts forecast that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.