CommScope (NASDAQ:COMM) Stock Price Passes Below 200-Day Moving Average of $2.01

CommScope Holding Company, Inc. (NASDAQ:COMM) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.01 and traded as low as $1.00. CommScope shares last traded at $1.00, with a volume of 2,517,925 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COMM shares. JPMorgan Chase & Co. restated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Northland Securities reaffirmed a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. StockNews.com lowered shares of CommScope from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Bank of America dropped their price objective on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating for the company in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.27.

CommScope Stock Down 6.5 %

The stock has a market capitalization of $212.25 million, a PE ratio of -0.14 and a beta of 1.98. The stock’s 50 day moving average price is $1.54 and its 200-day moving average price is $2.01.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. As a group, sell-side analysts predict that CommScope Holding Company, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director L William Krause acquired 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average cost of $1.59 per share, for a total transaction of $91,107.00. Following the completion of the acquisition, the director now directly owns 227,873 shares of the company’s stock, valued at approximately $362,318.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of CommScope

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of CommScope by 4.9% in the third quarter. Public Employees Retirement System of Ohio now owns 25,878 shares of the communications equipment provider’s stock valued at $238,000 after acquiring an additional 1,213 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of CommScope by 2.0% in the second quarter. First Republic Investment Management Inc. now owns 66,552 shares of the communications equipment provider’s stock valued at $407,000 after acquiring an additional 1,331 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in shares of CommScope by 5.2% in the fourth quarter. Vident Investment Advisory LLC now owns 46,963 shares of the communications equipment provider’s stock valued at $345,000 after acquiring an additional 2,318 shares in the last quarter. Legal & General Group Plc raised its holdings in CommScope by 1.4% in the fourth quarter. Legal & General Group Plc now owns 192,899 shares of the communications equipment provider’s stock worth $1,418,000 after purchasing an additional 2,676 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. raised its holdings in CommScope by 8.3% in the third quarter. Parallax Volatility Advisers L.P. now owns 46,006 shares of the communications equipment provider’s stock worth $424,000 after purchasing an additional 3,518 shares in the last quarter. 88.04% of the stock is currently owned by 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.