Virtu Financial LLC Sells 80,451 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Virtu Financial LLC cut its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 81.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,181 shares of the communications equipment provider’s stock after selling 80,451 shares during the quarter. Virtu Financial LLC’s holdings in CommScope were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Monarch Alternative Capital LP acquired a new stake in CommScope during the 3rd quarter worth approximately $16,623,000. Assenagon Asset Management S.A. acquired a new stake in shares of CommScope during the third quarter worth $11,023,000. Bank of Montreal Can bought a new stake in shares of CommScope in the third quarter valued at about $7,023,000. Two Sigma Advisers LP grew its stake 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 acquiring an additional 975,200 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake 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 valued at $1,537,000 after acquiring an additional 953,171 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Performance

COMM opened at $5.70 on Friday. 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 cap of $1.23 billion, a P/E ratio of -1.29 and a beta of 1.95. The business’s fifty day moving average is $5.52 and its 200-day moving average is $4.00.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (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 in the previous year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

CommScope Company 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.