CommScope Holding Company, Inc. (NASDAQ:COMM) Sees Significant Increase in Short Interest

CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 18,340,000 shares, a growth of 22.9% from the March 15th total of 14,920,000 shares. Currently, 9.2% of the company’s stock are sold short. Based on an average trading volume of 4,520,000 shares, the short-interest ratio is currently 4.1 days.

COMM stock traded up $0.25 on Tuesday, hitting $6.46. The company had a trading volume of 60,041 shares, compared to its average volume of 4,451,587. CommScope has a 12-month low of $6.19 and a 12-month high of $22.18. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.44, a P/E/G ratio of 0.18 and a beta of 1.65. The stock’s 50-day simple moving average is $8.24 and its 200 day simple moving average is $9.79.

CommScope (NASDAQ:COMMGet Rating) last released its quarterly earnings results on Thursday, February 17th. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.04 billion. CommScope had a positive return on equity of 3,196.61% and a negative net margin of 5.39%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. Analysts anticipate that CommScope will post 1.37 earnings per share for the current year.

In other CommScope news, Director Derrick A. Roman acquired 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were acquired at an average price of $9.96 per share, with a total value of $74,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy T. Yates bought 5,000 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were acquired at an average cost of $10.06 per share, with a total value of $50,300.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 28,500 shares of company stock worth $251,500 in the last quarter. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in COMM. FPR Partners LLC increased its position in shares of CommScope by 12.3% during the 4th quarter. FPR Partners LLC now owns 19,473,018 shares of the communications equipment provider’s stock valued at $214,982,000 after purchasing an additional 2,140,000 shares during the last quarter. BlackRock Inc. grew its position in shares of CommScope by 4.5% during the 3rd quarter. BlackRock Inc. now owns 10,669,627 shares of the communications equipment provider’s stock valued at $145,001,000 after acquiring an additional 463,338 shares during the period. Boston Partners grew its position in shares of CommScope by 14.5% during the 3rd quarter. Boston Partners now owns 7,415,777 shares of the communications equipment provider’s stock valued at $100,457,000 after acquiring an additional 937,547 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of CommScope by 43.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,160,653 shares of the communications equipment provider’s stock worth $79,054,000 after purchasing an additional 2,175,706 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in CommScope by 6.9% in the 4th quarter. First Trust Advisors LP now owns 5,334,821 shares of the communications equipment provider’s stock worth $58,896,000 after purchasing an additional 345,382 shares during the period. Institutional investors and hedge funds own 87.30% of the company’s stock.

A number of research analysts have issued reports on COMM shares. Morgan Stanley lowered their price objective on CommScope from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, April 12th. The Goldman Sachs Group lowered CommScope from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $9.00 in a research report on Friday, April 1st. StockNews.com began coverage on shares of CommScope in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised shares of CommScope from a “strong sell” rating to a “hold” rating and set a $14.00 target price for the company in a report on Wednesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of CommScope from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.89.

CommScope Company Profile (Get Rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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