Voya Investment Management LLC Has $306,000 Stock Position in CommScope Holding Company, Inc. $COMM

Voya Investment Management LLC decreased its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 9.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,568 shares of the communications equipment provider’s stock after selling 5,997 shares during the quarter. Voya Investment Management LLC’s holdings in CommScope were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in COMM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of CommScope in the 4th quarter valued at approximately $2,509,000. Public Employees Retirement System of Ohio increased its position in CommScope by 233.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 81,299 shares of the communications equipment provider’s stock worth $424,000 after buying an additional 56,916 shares during the period. California State Teachers Retirement System increased its position in shares of CommScope by 1,219.1% during the fourth quarter. California State Teachers Retirement System now owns 201,759 shares of the communications equipment provider’s stock valued at $1,051,000 after purchasing an additional 186,464 shares during the period. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 14,066 shares during the period. Finally, Range Financial Group LLC bought a new stake in shares of CommScope during the first quarter valued at approximately $1,018,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Down 1.8%

COMM opened at $15.40 on Monday. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $17.13. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 0.53 and a beta of 2.46. The business has a 50 day moving average of $14.27 and a 200-day moving average of $8.65.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.27 billion. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.34 EPS. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup upgraded CommScope to an “outperform” rating in a research report on Monday, August 4th. Bank of America raised CommScope from an “underperform” rating to a “buy” rating and upped their price target for the company from $4.00 to $20.00 in a research note on Thursday, August 7th. Wolfe Research started coverage on CommScope in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded CommScope from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.75.

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.