CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 151.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 900,089 shares of the communications equipment provider’s stock after acquiring an additional 542,794 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of CommScope worth $5,500,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of CommScope in the third quarter valued at approximately $31,000. National Bank of Canada FI raised its holdings in shares of CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 2,857 shares during the period. Quarry LP boosted its position in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 7,380 shares during the last quarter. Belvedere Trading LLC purchased a new stake in shares of CommScope in the third quarter valued at about $68,000. Finally, Creative Planning acquired a new stake in CommScope during the third quarter worth about $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Tuesday. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.00.

CommScope Stock Performance

Shares of COMM opened at $5.40 on Friday. The stock has a market capitalization of $1.17 billion, a PE ratio of -1.22, a P/E/G ratio of 0.57 and a beta of 1.92. The company’s 50-day simple moving average is $5.16 and its 200-day simple moving average is $4.55. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $7.19.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS 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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that CommScope Holding Company, Inc. will post -0.85 earnings per share 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.