The Manufacturers Life Insurance Company Buys 4,466 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

The Manufacturers Life Insurance Company raised its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,509 shares of the communications equipment provider’s stock after buying an additional 4,466 shares during the period. The Manufacturers Life Insurance Company’s holdings in CommScope were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COMM. Headlands Technologies LLC grew its position in CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 18,722 shares during the period. Allspring Global Investments Holdings LLC raised its stake in 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 valued at $34,000 after purchasing an additional 25,212 shares during the period. Quadrature Capital Ltd purchased a new position in CommScope in the 4th quarter worth approximately $198,000. Fore Capital LLC boosted its stake in 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 period. Finally, Stoneridge Investment Partners LLC grew its holdings in CommScope by 69.4% during 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 in the last quarter. 88.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CommScope Stock Up 7.1 %

NASDAQ COMM opened at $6.05 on Monday. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $6.75. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -0.68, a PEG ratio of 0.28 and a beta of 2.10. The company has a fifty day moving average of $5.08 and a two-hundred day moving average of $2.69.

CommScope (NASDAQ:COMM) last released its 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 during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $0.14 EPS. CommScope’s revenue was down 12.7% compared to the same quarter last year. Equities research analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

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.