Cubist Systematic Strategies LLC Invests $144,000 in CommScope Holding Company, Inc. (NASDAQ:COMM)

Cubist Systematic Strategies LLC acquired a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 116,742 shares of the communications equipment provider’s stock, valued at approximately $144,000. Cubist Systematic Strategies LLC owned 0.05% of CommScope at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COMM. Quadrature Capital Ltd purchased a new position in shares of CommScope during the 4th quarter valued at $198,000. Allspring Global Investments Holdings LLC raised its stake in 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 purchasing an additional 25,212 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in CommScope in the 1st quarter worth approximately $126,000. BNP Paribas Financial Markets grew its holdings in CommScope by 31.9% during the 1st quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock valued at $595,000 after buying an additional 109,753 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of CommScope in the first quarter worth $369,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COMM has been the topic of several research analyst reports. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Northland Securities increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1.75.

CommScope Stock Performance

Shares of NASDAQ:COMM opened at $5.83 on Wednesday. The firm has a market cap of $1.24 billion, a PE ratio of -0.66, a price-to-earnings-growth ratio of 0.28 and a beta of 2.10. The firm’s 50 day simple moving average is $4.89 and its 200-day simple moving average is $2.59. CommScope Holding Company, Inc. has a one year low of $0.86 and a one year high of $6.75.

CommScope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.14 EPS. CommScope’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities research analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal 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.