CommScope (NASDAQ:COMM) Shares Down 4.3% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM) shares fell 4.3% during mid-day trading on Monday . The company traded as low as $5.75 and last traded at $5.75. 540,064 shares traded hands during trading, a decline of 87% from the average session volume of 4,081,721 shares. The stock had previously closed at $6.01.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COMM shares. Northland Securities upped their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1.75.

CommScope Stock Performance

The firm has a market capitalization of $1.21 billion, a PE ratio of -0.64, a price-to-earnings-growth ratio of 0.28 and a beta of 2.10. The firm’s 50 day moving average price is $4.75 and its 200-day moving average price is $2.53.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities research analysts expect that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently made changes to their positions in COMM. Quadrature Capital Ltd purchased a new position in shares of CommScope in the fourth quarter worth about $198,000. Allspring Global Investments Holdings LLC boosted its stake in CommScope by 5,083.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 25,212 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CommScope in the 1st quarter valued at $126,000. BNP Paribas Financial Markets increased its stake in CommScope by 31.9% during the first quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock worth $595,000 after acquiring an additional 109,753 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in CommScope in the first quarter valued at $369,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

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.