CommScope (NASDAQ:COMM) Shares Up 7%

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) were up 7% during trading on Thursday . The stock traded as high as $6.01 and last traded at $5.99. Approximately 726,000 shares were traded during trading, a decline of 82% from the average daily volume of 4,035,986 shares. The stock had previously closed at $5.60.

Analyst Ratings Changes

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

CommScope Price Performance

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -0.70, a P/E/G ratio of 0.23 and a beta of 2.07. The company’s fifty day simple moving average is $3.49 and its two-hundred day simple moving average is $2.01.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, analysts forecast that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COMM. Point72 DIFC Ltd bought a new position in CommScope during the 2nd quarter valued at $140,000. Cubist Systematic Strategies LLC purchased a new stake in CommScope in the 2nd quarter valued at about $144,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of CommScope in the 2nd quarter worth approximately $230,000. The Manufacturers Life Insurance Company grew its holdings in shares of CommScope by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock valued at $106,000 after acquiring an additional 4,466 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of CommScope by 19.9% in the second 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 in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Company 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.