Nuveen Asset Management LLC Has $14.99 Million Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Nuveen Asset Management LLC cut its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 15.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,877,372 shares of the communications equipment provider’s stock after selling 509,468 shares during the quarter. Nuveen Asset Management LLC owned about 1.33% of CommScope worth $14,991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its position in shares of CommScope by 130.6% in 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 period. Swiss National Bank acquired a new position in shares of CommScope in the 4th quarter valued at approximately $2,212,000. Arizona State Retirement System acquired a new position in shares of CommScope in the 4th quarter valued at approximately $326,000. Amundi acquired a new position in shares of CommScope in the 4th quarter valued at approximately $137,000. Finally, Legal & General Group Plc grew its position in shares of CommScope by 986.1% in the 4th quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider’s stock valued at $1,066,000 after purchasing an additional 185,716 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on COMM. Wall Street Zen lowered CommScope from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, CommScope has an average rating of “Hold” and a consensus price target of $4.75.

CommScope Stock Up 3.8%

Shares of COMM stock opened at $5.70 on Monday. The company’s fifty day simple moving average is $4.61 and its 200-day simple moving average is $5.00. The firm has a market cap of $1.23 billion, a PE ratio of -1.29, a P/E/G ratio of 0.41 and a beta of 2.06. CommScope Holding Company, Inc. has a 12 month low of $1.05 and a 12 month high of $7.19.

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

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.