Principal Financial Group Inc. Has $90,000 Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Principal Financial Group Inc. lessened its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 28.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,729 shares of the communications equipment provider’s stock after selling 5,969 shares during the period. Principal Financial Group Inc.’s holdings in CommScope were worth $90,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Monarch Alternative Capital LP acquired a new position in CommScope in the third quarter valued at about $16,623,000. Assenagon Asset Management S.A. bought a new position in CommScope in the 3rd quarter valued at about $11,023,000. Bank of Montreal Can bought a new stake in shares of CommScope during the 3rd quarter worth approximately $7,023,000. Two Sigma Advisers LP boosted its position in shares of CommScope by 29.3% during the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after acquiring an additional 975,200 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in CommScope by 319.3% in the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after acquiring an additional 953,171 shares during the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COMM has been the topic of a number of research analyst reports. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Tuesday, December 17th. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $2.50.

CommScope Stock Down 3.9 %

Shares of COMM stock opened at $5.13 on Wednesday. CommScope Holding Company, Inc. has a twelve month low of $0.86 and a twelve month high of $7.19. The stock’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $4.40. The firm has a market capitalization of $1.11 billion, a P/E ratio of -1.16 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) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, equities research analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal 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.