Point72 DIFC Ltd Invests $140,000 in CommScope Holding Company, Inc. (NASDAQ:COMM)

Point72 DIFC Ltd acquired a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 113,824 shares of the communications equipment provider’s stock, valued at approximately $140,000. Point72 DIFC Ltd owned 0.05% of CommScope at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its position in shares of CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 18,722 shares during the period. Allspring Global Investments Holdings LLC increased its stake in CommScope by 5,083.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 25,212 shares in the last quarter. Fore Capital LLC raised its holdings in CommScope by 36.5% during the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock valued at $92,000 after acquiring an additional 20,000 shares during the period. Stoneridge Investment Partners LLC lifted its position in shares of CommScope by 69.4% in the second quarter. Stoneridge Investment Partners LLC now owns 80,441 shares of the communications equipment provider’s stock valued at $99,000 after acquiring an additional 32,948 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of CommScope in the first quarter worth about $106,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

Shares of COMM opened at $6.05 on Wednesday. The business’s 50 day simple moving average is $4.13 and its 200-day simple moving average is $2.26. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $6.75. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -0.68, a price-to-earnings-growth ratio of 0.28 and a beta of 2.08.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business earned $0.14 EPS. CommScope’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, sell-side analysts expect that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

COMM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Northland Securities lifted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.75.

CommScope Company Profile

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.