HighTower Advisors LLC Sells 303,070 Shares of CommScope Holding Company, Inc. $COMM

HighTower Advisors LLC reduced its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,676,694 shares of the communications equipment provider’s stock after selling 303,070 shares during the quarter. HighTower Advisors LLC owned 1.21% of CommScope worth $41,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in CommScope by 244.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock worth $50,437,000 after acquiring an additional 6,743,929 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of CommScope by 187.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,536,131 shares of the communications equipment provider’s stock valued at $70,219,000 after purchasing an additional 2,957,053 shares during the period. Hennessy Advisors Inc. bought a new position in shares of CommScope in the third quarter worth approximately $40,417,000. Allspring Global Investments Holdings LLC increased its stake in shares of CommScope by 3,577.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,204,849 shares of the communications equipment provider’s stock worth $35,256,000 after buying an additional 2,144,901 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in CommScope during the 2nd quarter valued at $13,842,000. Institutional investors own 88.04% of the company’s stock.

CommScope Price Performance

Shares of NASDAQ COMM opened at $19.41 on Wednesday. CommScope Holding Company, Inc. has a 1 year low of $2.94 and a 1 year high of $20.55. The stock has a market capitalization of $4.30 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.85 and a beta of 2.39. The company’s 50-day moving average is $18.97 and its 200 day moving average is $17.30.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COMM. Northland Securities set a $25.00 price target on shares of CommScope in a report on Friday, October 31st. Bank of America raised their target price on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Zacks Research lowered CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, CommScope presently has an average rating of “Hold” and an average price target of $18.40.

CommScope Company Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.