Creative Planning Boosts Stake in CommScope Holding Company, Inc. $COMM

Creative Planning increased its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 353.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,062 shares of the communications equipment provider’s stock after acquiring an additional 46,803 shares during the period. Creative Planning’s holdings in CommScope were worth $497,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in CommScope by 244.8% during the first quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock worth $50,437,000 after purchasing an additional 6,743,929 shares in the last quarter. Apollo Management Holdings L.P. acquired a new position in shares of CommScope during the 1st quarter worth approximately $32,806,000. Nuveen LLC purchased a new position in shares of CommScope during the 1st quarter valued at approximately $13,507,000. Penserra Capital Management LLC acquired a new stake in CommScope in the 2nd quarter valued at $13,842,000. Finally, Shellback Capital LP purchased a new stake in CommScope in the 1st quarter worth $6,253,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America increased their price objective on shares of CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a report on Tuesday, November 11th. Northland Securities set a $25.00 price target on shares of CommScope in a research note on Friday, October 31st. Zacks Research upgraded CommScope from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.17.

CommScope Trading Up 1.8%

COMM stock opened at $19.17 on Friday. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.90 and a beta of 2.38. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $20.10. The firm has a 50-day moving average of $16.72 and a two-hundred day moving average of $12.84.

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.