Acadian Asset Management LLC Has $1.54 Million Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Acadian Asset Management LLC grew its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 319.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,251,705 shares of the communications equipment provider’s stock after purchasing an additional 953,171 shares during the period. Acadian Asset Management LLC owned about 0.59% of CommScope worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in COMM. Headlands Technologies LLC boosted its stake in shares of CommScope by 357.9% in the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 18,722 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CommScope by 5,083.1% in 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 buying an additional 25,212 shares during the last quarter. Victory Capital Management Inc. raised its holdings in CommScope by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after buying an additional 4,978 shares during the last quarter. RPO LLC bought a new position in CommScope in the 4th quarter valued at approximately $92,000. Finally, Virtu Financial LLC bought a new position in CommScope in the 1st quarter valued at approximately $106,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CommScope Stock Performance

CommScope stock opened at $5.33 on Monday. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $5.38. The firm has a 50 day moving average price of $3.04 and a two-hundred day moving average price of $1.86. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -0.60, a PEG ratio of 0.23 and a beta of 2.08.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the business posted $0.14 EPS. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities research analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal 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.