CommScope (NASDAQ:COMM) Shares Down 4.6%

CommScope Holding Company, Inc. (NASDAQ:COMM) shares fell 4.6% during mid-day trading on Tuesday . The stock traded as low as $4.16 and last traded at $4.19. 454,376 shares changed hands during trading, a decline of 89% from the average session volume of 4,039,104 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COMM shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Northland Securities increased their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, CommScope has an average rating of “Hold” and an average price target of $1.75.

CommScope Trading Down 1.4 %

The company has a market capitalization of $919.16 million, a PE ratio of -0.47, a PEG ratio of 1.91 and a beta of 2.08. The firm’s 50-day simple moving average is $2.14 and its 200-day simple moving average is $1.63.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, analysts anticipate that CommScope Holding Company, Inc. will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC boosted its position in shares of CommScope by 357.9% in the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 18,722 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 25,212 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of CommScope by 55.3% during the fourth quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 6,949 shares during the last quarter. Stoneridge Investment Partners LLC raised its position in shares of CommScope by 30.4% in the 4th quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock valued at $67,000 after purchasing an additional 5,553 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in CommScope by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock worth $78,000 after purchasing an additional 4,978 shares in the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.