CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,558,102 shares of the communications equipment provider’s stock after selling 1,194,702 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CommScope were worth $27,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of COMM. Assenagon Asset Management S.A. acquired a new position in shares of CommScope during the 3rd quarter valued at about $11,023,000. Acadian Asset Management LLC boosted its position in shares of CommScope by 319.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after acquiring an additional 953,171 shares during the last quarter. Millennium Management LLC boosted its position in shares of CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after acquiring an additional 840,742 shares during the last quarter. Marathon Asset Management LP boosted its position in shares of CommScope by 75.0% during the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after acquiring an additional 750,000 shares during the last quarter. Finally, P Schoenfeld Asset Management LP boosted its position in shares of CommScope by 233.3% during the 2nd quarter. P Schoenfeld Asset Management LP now owns 1,000,000 shares of the communications equipment provider’s stock valued at $1,230,000 after acquiring an additional 700,000 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analysts Set New Price Targets

COMM has been the topic of a number of recent analyst reports. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Northland Securities upped their target price 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, Morgan Stanley upped their target price on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.50.

CommScope Stock Performance

Shares of COMM opened at $5.36 on Thursday. The stock has a market capitalization of $1.16 billion, a PE ratio of -1.21 and a beta of 1.95. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $7.19. The company’s 50-day simple moving average is $5.62 and its 200-day simple moving average is $3.69.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, sell-side analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share 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.