Ameriprise Financial Inc. Has $834,000 Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Ameriprise Financial Inc. lowered its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 14.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 160,157 shares of the communications equipment provider’s stock after selling 27,500 shares during the period. Ameriprise Financial Inc. owned 0.07% of CommScope worth $834,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in CommScope during the fourth quarter worth $27,000. Sterling Capital Management LLC raised its holdings in CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 4,026 shares during the last quarter. Sciencast Management LP acquired a new position in CommScope during the fourth quarter worth $56,000. Finally, Jones Financial Companies Lllp acquired a new position in CommScope during the fourth quarter worth $60,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Price Performance

Shares of COMM stock opened at $5.63 on Tuesday. The company has a market cap of $1.22 billion, a P/E ratio of -1.27, a P/E/G ratio of 0.41 and a beta of 2.06. The firm has a 50-day moving average of $4.65 and a 200-day moving average of $5.07. CommScope Holding Company, Inc. has a one year low of $1.05 and a one year high of $7.19.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price objective on shares of CommScope in a report on Thursday, February 27th. Wall Street Zen downgraded shares of CommScope from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, CommScope has a consensus rating of “Hold” and a consensus target price 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.