CommScope (NASDAQ:COMM) Trading Down 5.1% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price fell 5.1% on Wednesday . The stock traded as low as $4.41 and last traded at $4.44. 699,641 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,166,782 shares. The stock had previously closed at $4.68.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COMM. Northland Securities lifted their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Morgan Stanley lifted their price target on CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, CommScope currently has a consensus rating of “Hold” and an average target price of $2.50.

CommScope Trading Down 0.7 %

The firm has a fifty day moving average of $5.84 and a 200 day moving average of $3.30. The company has a market capitalization of $958.50 million, a P/E ratio of -1.00, a P/E/G ratio of 0.21 and a beta of 2.09.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results 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). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Sell-side analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

A number of hedge funds have recently added to or reduced their stakes in COMM. Monarch Alternative Capital LP purchased a new stake in CommScope during the third quarter valued at $16,623,000. Assenagon Asset Management S.A. bought a new stake in shares of CommScope during the 3rd quarter valued at about $11,023,000. Bank of Montreal Can purchased a new stake in shares of CommScope during the 3rd quarter valued at about $7,023,000. Acadian Asset Management LLC lifted its stake in shares of CommScope by 319.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after buying an additional 840,742 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.