Rhumbline Advisers Has $1.88 Million Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Rhumbline Advisers increased its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,637 shares of the communications equipment provider’s stock after purchasing an additional 23,813 shares during the period. Rhumbline Advisers owned approximately 0.17% of CommScope worth $1,884,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COMM. National Bank of Canada FI boosted its stake 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 in the last quarter. 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 worth $50,000 after purchasing an additional 7,380 shares during the last quarter. Ballentine Partners LLC bought a new stake in CommScope during the fourth quarter worth approximately $58,000. Belvedere Trading LLC acquired a new position in CommScope during the third quarter valued at approximately $68,000. Finally, Creative Planning bought a new position in shares of CommScope in the third quarter valued at approximately $73,000. 88.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price target on shares of CommScope in a report on Thursday. Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised 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, StockNews.com raised CommScope from a “hold” rating to a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, CommScope presently has an average rating of “Hold” and an average price target of $4.00.

CommScope Stock Performance

Shares of COMM opened at $6.18 on Tuesday. The company has a 50-day simple moving average of $5.30 and a 200-day simple moving average of $5.34. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19. The firm has a market capitalization of $1.33 billion, a P/E ratio of -1.40, a P/E/G ratio of 0.41 and a beta of 1.90.

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.