Intech Investment Management LLC Makes New $302,000 Investment in CommScope Holding Company, Inc. (NASDAQ:COMM)

Intech Investment Management LLC bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 49,446 shares of the communications equipment provider’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope in the 3rd quarter valued at about $31,000. Belvedere Trading LLC acquired a new position in shares of CommScope in the 3rd quarter valued at about $68,000. Creative Planning acquired a new position in shares of CommScope in the 3rd quarter valued at about $73,000. Hanseatic Management Services Inc. acquired a new position in shares of CommScope in the 3rd quarter valued at about $76,000. Finally, Fore Capital LLC lifted 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 valued at $92,000 after purchasing an additional 20,000 shares during the period. 88.04% of the stock is owned by institutional investors and hedge funds.

CommScope Stock Up 11.9 %

Shares of COMM opened at $5.36 on Thursday. The company has a market capitalization of $1.16 billion, a P/E ratio of -1.21 and a beta of 1.95. The firm has a 50 day moving average of $5.62 and a 200 day moving average of $3.69. CommScope Holding Company, Inc. has a twelve month low of $0.86 and a twelve month high of $7.19.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, sell-side analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Northland Securities boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Morgan Stanley boosted their price objective on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.50.

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.