Ensign Peak Advisors Inc Takes Position in CommScope Holding Company, Inc. $COMM

Ensign Peak Advisors Inc bought a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 23,950 shares of the communications equipment provider’s stock, valued at approximately $198,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Banque Transatlantique SA bought a new position in shares of CommScope in the first quarter worth about $34,000. West Michigan Advisors LLC purchased a new stake in CommScope in the 2nd quarter worth approximately $83,000. National Bank of Canada FI raised its stake in 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 worth $86,000 after acquiring an additional 15,323 shares during the period. American Century Companies Inc. purchased a new position in CommScope during the first quarter valued at approximately $91,000. Finally, CWM LLC boosted its position in shares of CommScope by 236.5% in the second quarter. CWM LLC now owns 11,156 shares of the communications equipment provider’s stock worth $92,000 after purchasing an additional 7,841 shares during the period. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COMM. Morgan Stanley upgraded shares of CommScope from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Zacks Research upgraded CommScope from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Raymond James Financial upgraded CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Tuesday, August 5th. Northland Securities set a $25.00 price objective on CommScope in a research note on Friday, October 31st. Finally, Citigroup raised CommScope to an “outperform” rating in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, CommScope currently has an average rating of “Moderate Buy” and an average price target of $16.17.

CommScope Stock Down 0.2%

COMM opened at $19.70 on Tuesday. The company has a market capitalization of $4.36 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 0.94 and a beta of 2.38. The firm has a 50-day simple moving average of $16.45 and a two-hundred day simple moving average of $12.57. CommScope Holding Company, Inc. has a 52 week low of $2.94 and a 52 week high of $19.99.

CommScope Company 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.