Traynor Capital Management Inc. reduced its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Free Report) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,000 shares of the communications equipment provider’s stock after selling 2,000 shares during the quarter. Traynor Capital Management Inc.’s holdings in CommScope were worth $73,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Monarch Alternative Capital LP bought a new position in CommScope in the 3rd quarter valued at about $16,623,000. Assenagon Asset Management S.A. bought a new position in CommScope in the third quarter valued at approximately $11,023,000. Bank of Montreal Can acquired a new position in CommScope during the third quarter valued at approximately $7,023,000. Two Sigma Advisers LP lifted its stake in CommScope by 29.3% during the third 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 last quarter. Finally, Millennium Management LLC boosted its holdings in shares of CommScope by 19.9% in the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on COMM shares. JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Tuesday, January 14th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Finally, Morgan Stanley cut shares of 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. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, CommScope has a consensus rating of “Hold” and an average price target of $3.00.
CommScope Stock Performance
NASDAQ:COMM opened at $5.86 on Friday. The stock’s 50-day moving average is $5.23 and its 200-day moving average is $4.70. The stock has a market cap of $1.27 billion, a P/E ratio of -1.33, a price-to-earnings-growth ratio of 0.64 and a beta of 1.92. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $7.19.
CommScope (NASDAQ:COMM – Get Free Report) last posted its earnings results 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). The business 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. As a group, equities analysts forecast that CommScope Holding Company, Inc. will post -0.85 EPS for the current year.
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.
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