Principal Financial Group Inc. Reduces Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Principal Financial Group Inc. reduced its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 28.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,729 shares of the communications equipment provider’s stock after selling 5,969 shares during the quarter. Principal Financial Group Inc.’s holdings in CommScope were worth $90,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COMM. Future Financial Wealth Managment LLC purchased a new stake in shares of CommScope in the third quarter worth approximately $31,000. Belvedere Trading LLC bought a new position in CommScope in the 3rd quarter valued at $68,000. Creative Planning purchased a new stake in CommScope in the third quarter worth $73,000. Hanseatic Management Services Inc. bought a new stake in shares of CommScope during the third quarter worth $76,000. Finally, Traynor Capital Management Inc. purchased a new stake in shares of CommScope during the third quarter valued at $98,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Down 2.4 %

Shares of NASDAQ:COMM opened at $4.97 on Wednesday. The firm has a 50 day moving average of $5.76 and a 200 day moving average of $3.54. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -1.12 and a beta of 2.09. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week 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 the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on COMM shares. Morgan Stanley lifted their price objective on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Northland Securities lifted their target price on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, CommScope currently has a consensus rating of “Hold” and a consensus price target of $2.50.

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.