Y Intercept Hong Kong Ltd Purchases 127,619 Shares of CommScope Holding Company, Inc. $COMM

Y Intercept Hong Kong Ltd grew its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 268.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,084 shares of the communications equipment provider’s stock after acquiring an additional 127,619 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.08% of CommScope worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in COMM. Banque Transatlantique SA bought a new position in shares of CommScope during the 1st quarter valued at approximately $34,000. Caliber Wealth Management LLC KS bought a new position in shares of CommScope during the 1st quarter valued at approximately $57,000. KBC Group NV bought a new position in shares of CommScope during the 1st quarter valued at approximately $65,000. West Michigan Advisors LLC bought a new position in shares of CommScope during the 2nd quarter valued at approximately $83,000. Finally, National Bank of Canada FI increased its position in shares of CommScope by 1,783.8% during the 1st quarter. National Bank of Canada FI now owns 16,182 shares of the communications equipment provider’s stock valued at $86,000 after purchasing an additional 15,323 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COMM shares. Weiss Ratings reissued a “hold (c)” rating on shares of CommScope in a research report on Wednesday, October 8th. Raymond James Financial raised CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Tuesday, August 5th. Morgan Stanley raised CommScope from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Zacks Research downgraded CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Northland Securities set a $25.00 target price on CommScope in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, CommScope currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.58.

CommScope Stock Up 2.7%

Shares of CommScope stock opened at $17.30 on Monday. The stock’s fifty day moving average is $15.92 and its two-hundred day moving average is $10.63. The company has a market capitalization of $3.83 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of 0.60 and a beta of 2.42. CommScope Holding Company, Inc. has a 52 week low of $2.94 and a 52 week high of $17.93.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, October 30th. The communications equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.37 by $0.25. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.37 billion. CommScope had a negative return on equity of 13.70% and a net margin of 17.57%.CommScope’s quarterly revenue was up 50.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

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.