CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 41.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,058,239 shares of the communications equipment provider’s stock after selling 745,850 shares during the period. Assenagon Asset Management S.A. owned approximately 0.49% of CommScope worth $5,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in COMM. Monarch Alternative Capital LP purchased a new stake in shares of CommScope in the third quarter valued at approximately $16,623,000. Bank of Montreal Can purchased a new stake in shares of CommScope in the third quarter valued at approximately $7,023,000. Two Sigma Advisers LP grew its position in shares of CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after purchasing an additional 975,200 shares in the last quarter. Millennium Management LLC grew its position in shares of CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares in the last quarter. Finally, Marathon Asset Management LP grew its position in shares of CommScope by 75.0% in the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after purchasing an additional 750,000 shares in the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

CommScope Stock Down 0.7 %

NASDAQ:COMM opened at $5.36 on Tuesday. The stock’s fifty day moving average is $5.17 and its two-hundred day moving average is $4.63. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -1.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.92.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS 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 analyst estimates of $1.42 billion. During the same quarter last year, the company 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, sell-side analysts expect that CommScope Holding Company, Inc. will post -0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on COMM shares. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.00.

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.