Point72 Asia Singapore Pte. Ltd. Trims Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Point72 Asia Singapore Pte. Ltd. reduced its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 63.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,984 shares of the communications equipment provider’s stock after selling 118,814 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in CommScope were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COMM. Monarch Alternative Capital LP purchased a new position in CommScope during the 3rd quarter worth $16,623,000. Verition Fund Management LLC grew its holdings in shares of CommScope by 1,855.5% during the third quarter. Verition Fund Management LLC now owns 340,167 shares of the communications equipment provider’s stock worth $2,078,000 after buying an additional 322,772 shares during the last quarter. Walleye Capital LLC raised its stake in CommScope by 132.7% during the 3rd quarter. Walleye Capital LLC now owns 636,802 shares of the communications equipment provider’s stock valued at $3,891,000 after acquiring an additional 363,169 shares during the last quarter. BNP Paribas Financial Markets lifted its position in CommScope by 415.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock worth $1,150,000 after acquiring an additional 151,640 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of CommScope by 47.3% in the 3rd quarter. Quantbot Technologies LP now owns 239,098 shares of the communications equipment provider’s stock valued at $1,461,000 after purchasing an additional 76,755 shares during the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Northland Securities upped their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their target price on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.50.

CommScope Stock Performance

CommScope stock opened at $4.86 on Tuesday. CommScope Holding Company, Inc. has a one year low of $0.86 and a one year high of $7.19. The company has a market cap of $1.05 billion, a P/E ratio of -1.10 and a beta of 2.09. The business has a fifty day moving average of $5.67 and a two-hundred day moving average of $3.65.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

CommScope 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.