Charles Schwab Investment Management Inc. Sells 384,056 Shares of CommScope Holding Company, Inc. $COMM

Charles Schwab Investment Management Inc. cut its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,889,819 shares of the communications equipment provider’s stock after selling 384,056 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.33% of CommScope worth $15,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in COMM. Sterling Capital Management LLC grew its stake in shares of CommScope by 826.0% in the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 6,030 shares during the period. Tower Research Capital LLC TRC grew 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 valued at $52,000 after buying an additional 4,026 shares during the period. Caliber Wealth Management LLC KS bought a new stake in CommScope during the first quarter valued at approximately $57,000. KBC Group NV bought a new stake in CommScope during the first quarter valued at approximately $65,000. Finally, GAMMA Investing LLC grew its position in CommScope by 717.7% during the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider’s stock valued at $85,000 after buying an additional 14,066 shares during the period. 88.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COMM shares. Wall Street Zen lowered shares of CommScope from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Northland Capmk upgraded shares of CommScope from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Wolfe Research started coverage on shares of CommScope in a research report on Monday, July 7th. They issued a “peer perform” rating for the company. Morgan Stanley upgraded shares of CommScope from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $4.00 to $17.00 in a research report on Tuesday, August 5th. Finally, Bank of America upgraded shares of CommScope from an “underperform” rating to a “buy” rating and upped their price target for the stock from $4.00 to $20.00 in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

CommScope Stock Performance

COMM stock opened at $15.61 on Friday. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.12. The company’s fifty day moving average price is $9.92 and its 200-day moving average price is $6.73. The company has a market capitalization of $3.46 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 0.55 and a beta of 2.38.

CommScope (NASDAQ:COMM) last released its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, research analysts predict 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.