Stratos Wealth Partners LTD. Invests $467,000 in CommScope Holding Company, Inc. $COMM

Stratos Wealth Partners LTD. acquired a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,165 shares of the communications equipment provider’s stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COMM. Bank of New York Mellon Corp boosted its position in CommScope by 9.2% during the second quarter. Bank of New York Mellon Corp now owns 792,197 shares of the communications equipment provider’s stock worth $6,559,000 after purchasing an additional 66,784 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of CommScope during the 2nd quarter worth about $2,466,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of CommScope in the 2nd quarter worth about $707,000. Allspring Global Investments Holdings LLC bought a new stake in CommScope during the 2nd quarter worth approximately $496,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in CommScope by 268.9% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 175,084 shares of the communications equipment provider’s stock valued at $1,450,000 after purchasing an additional 127,619 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

CommScope Price Performance

Shares of NASDAQ:COMM opened at $19.41 on Thursday. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 5.92, a P/E/G ratio of 0.85 and a beta of 2.39. CommScope Holding Company, Inc. has a fifty-two week low of $2.94 and a fifty-two week high of $20.55. The firm’s 50 day simple moving average is $18.95 and its 200 day simple moving average is $17.32.

Analysts Set New Price Targets

Several research firms have weighed in on COMM. Bank of America raised their price objective on shares of CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a research 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. Finally, Zacks Research lowered shares of CommScope from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently 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.