Inspire Investing LLC Sells 129,527 Shares of CommScope Holding Company, Inc. $COMM

Inspire Investing LLC trimmed its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 62.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,260 shares of the communications equipment provider’s stock after selling 129,527 shares during the quarter. Inspire Investing LLC’s holdings in CommScope were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of CommScope by 717.7% in the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 14,066 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in CommScope in the 1st quarter worth approximately $143,000. Advisor Resource Council acquired a new position in CommScope during the 1st quarter worth $118,000. Cavalier Investments LLC bought a new position in CommScope in the 1st quarter valued at $1,057,000. Finally, KBC Group NV bought a new stake in shares of CommScope during the first quarter worth $65,000. Institutional investors own 88.04% of the company’s stock.

CommScope Trading Down 3.1%

Shares of COMM opened at $14.95 on Monday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 0.51 and a beta of 2.42. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $17.13. The firm has a fifty day simple moving average of $15.74 and a 200 day simple moving average of $9.34.

CommScope (NASDAQ:COMM) last issued its quarterly 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. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, research analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COMM has been the subject of several recent research reports. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research lowered CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of CommScope in a research note on Wednesday, October 8th. Northland Capmk upgraded shares of CommScope from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

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.