CommScope Holding Company, Inc. (NASDAQ:COMM) Stock Position Lifted by Walleye Capital LLC

Walleye Capital LLC increased its stake in CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,992 shares of the communications equipment provider’s stock after purchasing an additional 18,108 shares during the quarter. Walleye Capital LLC’s holdings in CommScope were worth $946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COMM. Ensign Peak Advisors Inc raised its holdings in CommScope by 63.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment provider’s stock worth $333,000 after purchasing an additional 11,715 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CommScope by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider’s stock valued at $23,981,000 after acquiring an additional 69,527 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of CommScope by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider’s stock valued at $17,697,000 after purchasing an additional 420,354 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of CommScope in the 1st quarter worth approximately $377,000. Finally, Cinctive Capital Management LP acquired a new position in CommScope in the fourth quarter worth approximately $10,826,000. Institutional investors own 90.79% of the company’s stock.

CommScope Stock Performance

Shares of COMM stock opened at $11.86 on Tuesday. The stock’s 50 day simple moving average is $9.95 and its 200 day simple moving average is $8.12. CommScope Holding Company, Inc. has a twelve month low of $5.56 and a twelve month high of $14.12. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -5.18, a PEG ratio of 0.33 and a beta of 1.75.

CommScope (NASDAQ:COMMGet Rating) last posted its earnings results on Thursday, August 4th. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. CommScope had a negative net margin of 4.65% and a negative return on equity of 105.05%. CommScope’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, analysts forecast that CommScope Holding Company, Inc. will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley cut CommScope from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $9.00 to $11.00 in a report on Friday, August 5th. Evercore ISI decreased their target price on shares of CommScope from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Tuesday, June 28th. JPMorgan Chase & Co. decreased their price objective on shares of CommScope from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Citigroup boosted their target price on shares of CommScope from $6.00 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on CommScope from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.67.

Insider Buying and Selling at CommScope

In related news, CEO Charles L. Treadway bought 48,076 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $10.41 per share, with a total value of $500,471.16. Following the completion of the transaction, the chief executive officer now owns 1,260,378 shares of the company’s stock, valued at approximately $13,120,534.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Charles L. Treadway bought 48,076 shares of CommScope stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average cost of $10.41 per share, with a total value of $500,471.16. Following the completion of the transaction, the chief executive officer now directly owns 1,260,378 shares in the company, valued at $13,120,534.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Claudius E. Iv Watts purchased 5,000 shares of the stock in a transaction on Thursday, August 11th. The stock was acquired at an average cost of $10.07 per share, for a total transaction of $50,350.00. Following the acquisition, the director now directly owns 559,030 shares in the company, valued at $5,629,432.10. The disclosure for this purchase can be found here. Insiders have acquired 63,076 shares of company stock valued at $645,321 in the last 90 days. 2.40% of the stock is currently owned by insiders.

CommScope Profile

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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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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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