Northern Trust Corp Purchases 250,761 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Northern Trust Corp raised its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,087,160 shares of the communications equipment provider’s stock after buying an additional 250,761 shares during the quarter. Northern Trust Corp owned about 0.97% of CommScope worth $10,874,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of COMM. Franklin Resources Inc. bought a new position in CommScope in the 3rd quarter valued at about $755,000. JPMorgan Chase & Co. grew its holdings in shares of CommScope by 151.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after purchasing an additional 542,794 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of CommScope during the 4th quarter valued at approximately $58,000. SG Americas Securities LLC grew its holdings in shares of CommScope by 130.6% during the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock valued at $238,000 after purchasing an additional 25,855 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of CommScope by 15.0% during the 4th quarter. Inspire Investing LLC now owns 77,276 shares of the communications equipment provider’s stock valued at $403,000 after purchasing an additional 10,089 shares during the last quarter. 88.04% of the stock is owned by institutional investors.

CommScope Price Performance

COMM opened at $5.88 on Friday. CommScope Holding Company, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $7.19. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -1.33, a PEG ratio of 0.41 and a beta of 2.06. The company’s 50 day moving average price is $4.55 and its two-hundred day moving average price is $5.05.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities research analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Analyst Ratings Changes

COMM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price target on shares of CommScope in a report on Thursday, February 27th. StockNews.com lowered shares of CommScope from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Two 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.75.

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.