CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Bought by National Bank of Canada FI

National Bank of Canada FI lifted its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 109.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,475 shares of the communications equipment provider’s stock after purchasing an additional 2,857 shares during the quarter. National Bank of Canada FI’s holdings in CommScope were worth $33,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COMM. Future Financial Wealth Managment LLC acquired a new stake in CommScope in the third quarter valued at approximately $31,000. Quarry LP grew its stake in CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 7,380 shares during the period. Belvedere Trading LLC purchased a new stake in CommScope in the 3rd quarter worth $68,000. Creative Planning acquired a new position in CommScope during the third quarter worth $73,000. Finally, Hanseatic Management Services Inc. purchased a new position in CommScope during the third quarter valued at $76,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a report on Tuesday. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Performance

Shares of COMM opened at $6.13 on Thursday. The stock has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $3.99. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $7.19. The stock has a market capitalization of $1.32 billion, a PE ratio of -1.39 and a beta of 1.95.

CommScope (NASDAQ:COMM) last posted 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Analysts predict that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

About CommScope

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.