CommScope (NASDAQ:COMM) Shares Gap Down – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.80, but opened at $5.50. CommScope shares last traded at $5.47, with a volume of 623,697 shares traded.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Tuesday. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.50.

CommScope Stock Up 9.3 %

The firm’s fifty day simple moving average is $5.53 and its 200-day simple moving average is $3.99. The firm has a market capitalization of $1.32 billion, a PE ratio of -1.39 and a beta of 1.95.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share 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 during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. CommScope’s revenue was up 2.7% on a year-over-year basis. As a group, analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

Institutional Trading of CommScope

A number of institutional investors have recently made changes to their positions in the stock. Monarch Alternative Capital LP purchased a new stake in CommScope in the third quarter worth approximately $16,623,000. Assenagon Asset Management S.A. purchased a new position in shares of CommScope in the 3rd quarter worth $11,023,000. Bank of Montreal Can bought a new stake in shares of CommScope in the third quarter worth $7,023,000. Two Sigma Advisers LP lifted its stake in shares of CommScope by 29.3% in 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 purchasing an additional 975,200 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of 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 worth $1,537,000 after buying an additional 953,171 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.