CommScope Holding Company, Inc. (NASDAQ:COMM) Sees Large Decline in Short Interest

CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 10,100,000 shares, a decrease of 6.6% from the October 15th total of 10,810,000 shares. Currently, 5.0% of the company’s stock are short sold. Based on an average daily volume of 3,080,000 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Upgrades and Downgrades

COMM has been the topic of several analyst reports. TheStreet raised shares of CommScope from a “d+” rating to a “c-” rating in a report on Wednesday, October 19th. Citigroup raised their target price on shares of CommScope from $6.00 to $7.00 and gave the company a “sell” rating in a report on Friday, August 5th. Morgan Stanley raised their target price on shares of CommScope from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of CommScope from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Credit Suisse Group raised shares of CommScope from a “neutral” rating to an “outperform” rating and raised their target price for the company from $11.00 to $17.00 in a report on Tuesday, October 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.44.

CommScope Trading Up 2.0 %

Shares of COMM opened at $9.12 on Friday. The firm has a market cap of $1.90 billion, a PE ratio of -5.81, a price-to-earnings-growth ratio of 0.26 and a beta of 1.89. The company’s 50 day simple moving average is $10.97 and its 200-day simple moving average is $9.20. CommScope has a 12-month low of $5.56 and a 12-month high of $13.73.

Insider Transactions at CommScope

In other CommScope news, CEO Charles L. Treadway purchased 48,076 shares of CommScope stock in a transaction dated 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 $13,120,534.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CommScope

A number of hedge funds have recently modified their holdings of COMM. SG Americas Securities LLC grew its position in shares of CommScope by 79.7% during the first quarter. SG Americas Securities LLC now owns 53,751 shares of the communications equipment provider’s stock worth $424,000 after acquiring an additional 23,840 shares during the last quarter. Wolverine Asset Management LLC grew its position in CommScope by 14.5% in the 1st quarter. Wolverine Asset Management LLC now owns 177,674 shares of the communications equipment provider’s stock valued at $1,400,000 after buying an additional 22,500 shares during the last quarter. Advisor Group Holdings Inc. grew its position in CommScope by 19.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 62,612 shares of the communications equipment provider’s stock valued at $493,000 after buying an additional 10,023 shares during the last quarter. New York State Common Retirement Fund grew its position in CommScope by 53.3% in the 1st quarter. New York State Common Retirement Fund now owns 273,226 shares of the communications equipment provider’s stock valued at $2,153,000 after buying an additional 94,992 shares during the last quarter. Finally, National Bank of Canada FI grew its position in CommScope by 25.9% in the 1st quarter. National Bank of Canada FI now owns 7,082 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 1,455 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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