Allianz Asset Management GmbH Has $2.96 Million Stock Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Allianz Asset Management GmbH boosted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMMFree Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,050,655 shares of the communications equipment provider’s stock after purchasing an additional 12,578 shares during the quarter. Allianz Asset Management GmbH owned 0.50% of CommScope worth $2,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of CommScope by 22.0% in the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after buying an additional 4,978 shares during the period. Stoneridge Investment Partners LLC raised its stake in shares of CommScope by 30.4% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock valued at $67,000 after purchasing an additional 5,553 shares in the last quarter. Mackenzie Financial Corp boosted its stake in CommScope by 55.3% during the fourth quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 6,949 shares in the last quarter. New York State Common Retirement Fund increased its holdings in CommScope by 14.6% in the 3rd quarter. New York State Common Retirement Fund now owns 73,992 shares of the communications equipment provider’s stock valued at $249,000 after buying an additional 9,432 shares during the period. Finally, Symphony Financial Ltd. Co. acquired a new position in shares of CommScope in the 4th quarter valued at $28,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on COMM shares. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. StockNews.com downgraded CommScope from a “hold” rating to a “sell” rating in a report on Monday, May 27th. Northland Securities reissued a “market perform” rating on shares of CommScope in a report on Friday, March 1st. Finally, Bank of America decreased their price target on CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.02.

Read Our Latest Stock Analysis on COMM

Insider Activity

In related news, Director L William Krause bought 57,300 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of $1.59 per share, with a total value of $91,107.00. Following the completion of the purchase, the director now owns 227,873 shares in the company, valued at approximately $362,318.07. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

CommScope Trading Down 6.4 %

NASDAQ COMM opened at $1.62 on Friday. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $6.65. The company has a 50 day moving average of $1.17 and a 200-day moving average of $1.74. The firm has a market cap of $343.89 million, a price-to-earnings ratio of -0.18 and a beta of 2.07.

CommScope (NASDAQ:COMMGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.14. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.04 billion. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. On average, analysts forecast that CommScope Holding Company, Inc. will post -0.17 earnings per share for the current year.

CommScope Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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