Teacher Retirement System of Texas Makes New Investment in CommScope Holding Company, Inc. (NASDAQ:COMM)

Teacher Retirement System of Texas bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 48,667 shares of the communications equipment provider’s stock, valued at approximately $258,000.

Other hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in shares of CommScope in the fourth quarter valued at $27,000. Sterling Capital Management LLC boosted its position 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 purchasing an additional 6,030 shares during the period. Tower Research Capital LLC TRC boosted its position 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 purchasing an additional 4,026 shares during the period. Sciencast Management LP bought a new position in CommScope during the fourth quarter worth $56,000. Finally, Covestor Ltd bought a new position in CommScope during the fourth quarter worth $62,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

CommScope Trading Up 1.7%

NASDAQ COMM opened at $7.85 on Friday. The company has a fifty day simple moving average of $6.70 and a 200 day simple moving average of $5.50. CommScope Holding Company, Inc. has a 12-month low of $1.57 and a 12-month high of $8.67. The company has a market cap of $1.70 billion, a P/E ratio of 2.88, a PEG ratio of 0.32 and a beta of 2.38.

CommScope (NASDAQ:COMM) last posted 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. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. 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 earned ($0.08) EPS. Sell-side analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of CommScope from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft boosted their price target on CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a research note on Tuesday, June 24th. Finally, Wolfe Research initiated coverage on CommScope in a research note on Monday, July 7th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, CommScope currently has an average rating of “Hold” and a consensus price target of $4.88.

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.