Man Group plc Cuts Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Man Group plc lessened its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,092 shares of the communications equipment provider’s stock after selling 47,833 shares during the period. Man Group plc’s holdings in CommScope were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of COMM. Ballentine Partners LLC purchased a new position in shares of CommScope in the 4th quarter valued at about $58,000. SG Americas Securities LLC boosted its holdings in CommScope by 130.6% in the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock worth $238,000 after buying an additional 25,855 shares during the last quarter. AA Financial Advisors LLC boosted its holdings in CommScope by 5.8% in the 4th quarter. AA Financial Advisors LLC now owns 543,660 shares of the communications equipment provider’s stock worth $2,832,000 after buying an additional 30,000 shares during the last quarter. Rhumbline Advisers boosted its holdings in CommScope by 7.0% in the 4th quarter. Rhumbline Advisers now owns 361,637 shares of the communications equipment provider’s stock worth $1,884,000 after buying an additional 23,813 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in CommScope in the 4th quarter worth about $547,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COMM. Wall Street Zen cut CommScope from a “strong-buy” rating to a “buy” rating in a 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 data from MarketBeat.com, CommScope currently has an average rating of “Hold” and an average price target of $4.75.

CommScope Price Performance

Shares of CommScope stock opened at $5.70 on Tuesday. The stock has a market cap of $1.23 billion, a P/E ratio of -1.29, a P/E/G ratio of 0.41 and a beta of 2.06. The stock’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $5.01. CommScope Holding Company, Inc. has a 1-year low of $1.05 and a 1-year high of $7.19.

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