CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Acquired by Fmr LLC

Fmr LLC grew its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 903,673 shares of the communications equipment provider’s stock after purchasing an additional 28,155 shares during the quarter. Fmr LLC owned 0.42% of CommScope worth $5,521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of COMM. Future Financial Wealth Managment LLC purchased a new stake in shares of CommScope during the third quarter valued at $31,000. Belvedere Trading LLC acquired a new stake in CommScope during the 3rd quarter worth about $68,000. Creative Planning purchased a new stake in CommScope during the third quarter valued at about $73,000. Hanseatic Management Services Inc. acquired a new position in shares of CommScope in the third quarter worth about $76,000. Finally, Traynor Capital Management Inc. purchased a new position in shares of CommScope in the third quarter worth approximately $98,000. Institutional investors own 88.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on COMM shares. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley increased their target price on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Down 0.7 %

CommScope stock opened at $5.75 on Friday. CommScope Holding Company, Inc. has a 12 month low of $0.86 and a 12 month high of $7.19. The stock has a market cap of $1.24 billion, a P/E ratio of -1.30 and a beta of 1.95. The company’s fifty day simple moving average is $5.55 and its 200-day simple moving average is $3.83.

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