JPMorgan Chase & Co. Sells 112,008 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

JPMorgan Chase & Co. lowered its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 788,081 shares of the communications equipment provider’s stock after selling 112,008 shares during the period. JPMorgan Chase & Co. owned 0.37% of CommScope worth $4,106,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in COMM. State Street Corp lifted its stake in CommScope by 9.2% in the third 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of CommScope by 3.1% in the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after buying an additional 155,166 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of CommScope during the 3rd quarter worth approximately $755,000. Diversified Trust Co increased its holdings in shares of CommScope by 11.1% during the 4th quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after acquiring an additional 4,827 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in CommScope in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Stock Down 3.2 %

NASDAQ COMM opened at $3.33 on Friday. The firm has a 50-day moving average price of $4.89 and a two-hundred day moving average price of $5.26. CommScope Holding Company, Inc. has a 12-month low of $0.86 and a 12-month high of $7.19. The company has a market capitalization of $721.15 million, a P/E ratio of -0.75, a P/E/G ratio of 0.41 and a beta of 1.98.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COMM shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 price objective on shares of CommScope in a report on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock 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.