CommScope (NASDAQ:COMM) Trading Down 5.9%

CommScope Holding Company, Inc. (NASDAQ:COMM) shares dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $5.75 and last traded at $5.75. Approximately 796,325 shares were traded during trading, a decline of 81% from the average daily volume of 4,130,100 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Northland Securities increased their price objective 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. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1.75.

CommScope Price Performance

The firm has a market cap of $1.25 billion, a P/E ratio of -0.65, a PEG ratio of 0.28 and a beta of 2.08. The firm’s 50-day moving average price is $4.04 and its 200 day moving average price is $2.23.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data 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 last year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Analysts forecast that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of CommScope by 5.4% during 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 purchasing an additional 4,466 shares during the period. SummerHaven Investment Management LLC boosted its stake in CommScope by 10.4% during the second quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 12,017 shares in the last quarter. Allianz Asset Management GmbH raised its position in CommScope by 1.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,050,655 shares of the communications equipment provider’s stock worth $2,963,000 after acquiring an additional 12,578 shares in the last quarter. Headlands Technologies LLC lifted its holdings in 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 acquiring an additional 18,722 shares during the last quarter. Finally, Fore Capital LLC grew its stake in shares of CommScope by 36.5% in the 2nd quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds 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.