CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,111,866 shares of the communications equipment provider’s stock after purchasing an additional 155,166 shares during the period. Geode Capital Management LLC owned about 2.37% of CommScope worth $31,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI raised its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 2,857 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 worth $106,000 after purchasing an additional 4,466 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in CommScope in the 3rd quarter valued at $31,000. Quarry LP lifted its holdings in CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Belvedere Trading LLC acquired a new stake in CommScope during the 3rd quarter worth $68,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, CommScope has an average rating of “Hold” and an average price target of $2.50.

CommScope Stock Performance

NASDAQ COMM opened at $5.74 on Thursday. The stock’s fifty day moving average is $5.51 and its two-hundred day moving average is $4.12. The firm has a market capitalization of $1.24 billion, a P/E ratio of -1.30 and a beta of 1.96. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week 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). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

CommScope 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.