Prudential Financial Inc. Lowers Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Prudential Financial Inc. lowered its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 58.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,630 shares of the communications equipment provider’s stock after selling 30,400 shares during the period. Prudential Financial Inc.’s holdings in CommScope were worth $113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of CommScope by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock valued at $118,542,000 after purchasing an additional 694,363 shares in the last quarter. JPMorgan Chase & Co. grew its position in CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after buying an additional 542,794 shares in the last quarter. Swiss National Bank purchased a new position in CommScope during the fourth quarter worth about $2,212,000. State Street Corp raised its holdings in shares of CommScope by 9.2% in the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after acquiring an additional 387,466 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CommScope by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after acquiring an additional 155,166 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

COMM stock opened at $3.36 on Friday. The firm has a market cap of $727.64 million, a P/E ratio of -0.76, a P/E/G ratio of 0.41 and a beta of 1.98. The firm’s fifty day moving average is $5.05 and its 200 day moving average is $5.35. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price objective on shares of CommScope in a research report on Thursday, February 27th. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.75.

CommScope 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.