Principal Financial Group Inc. Trims Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Principal Financial Group Inc. reduced its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 19.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,847 shares of the communications equipment provider’s stock after selling 2,882 shares during the period. Principal Financial Group Inc.’s holdings in CommScope were worth $62,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in CommScope by 7.0% in the 4th quarter. Rhumbline Advisers now owns 361,637 shares of the communications equipment provider’s stock valued at $1,884,000 after buying an additional 23,813 shares during the period. AA Financial Advisors LLC increased its stake in CommScope by 5.8% during the fourth quarter. AA Financial Advisors LLC now owns 543,660 shares of the communications equipment provider’s stock worth $2,832,000 after purchasing an additional 30,000 shares during the period. Inspire Investing LLC increased its stake in CommScope by 15.0% during the fourth quarter. Inspire Investing LLC now owns 77,276 shares of the communications equipment provider’s stock worth $403,000 after purchasing an additional 10,089 shares during the period. SG Americas Securities LLC increased its stake in CommScope by 130.6% during the fourth quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock worth $238,000 after purchasing an additional 25,855 shares during the period. Finally, Ballentine Partners LLC acquired a new position in shares of CommScope during the fourth quarter worth about $58,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

CommScope Stock Performance

CommScope stock opened at $5.30 on Friday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -1.20, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $7.19. The stock’s fifty day moving average is $5.31 and its two-hundred day moving average is $5.38.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley downgraded 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. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. Finally, 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 note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.00.

About CommScope

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.