Squarepoint Ops LLC Sells 385,293 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Squarepoint Ops LLC trimmed its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 41.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 548,336 shares of the communications equipment provider’s stock after selling 385,293 shares during the quarter. Squarepoint Ops LLC owned approximately 0.26% of CommScope worth $674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of COMM. Headlands Technologies LLC lifted its holdings in CommScope by 357.9% during 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 25,212 shares during the last quarter. Fore Capital LLC boosted its holdings in shares of CommScope by 36.5% during the 2nd quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after buying an additional 20,000 shares during the period. Stoneridge Investment Partners LLC grew its stake in CommScope by 69.4% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 80,441 shares of the communications equipment provider’s stock valued at $99,000 after buying an additional 32,948 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in CommScope in the 1st quarter valued at about $106,000. 88.04% of the stock is owned by institutional investors.

CommScope Price Performance

CommScope stock opened at $6.03 on Wednesday. The stock’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $2.39. The firm has a market cap of $1.28 billion, a PE ratio of -0.68, a price-to-earnings-growth ratio of 0.28 and a beta of 2.10. CommScope Holding Company, Inc. has a one year low of $0.86 and a one year high of $6.75.

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

Analysts Set New Price Targets

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

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.