146,277 Shares in CommScope Holding Company, Inc. (NASDAQ:COMM) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 146,277 shares of the communications equipment provider’s stock, valued at approximately $894,000.

A number of other hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of CommScope by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock valued at $106,000 after buying an additional 4,466 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in CommScope during the 3rd quarter valued at about $31,000. Belvedere Trading LLC acquired a new position in shares of CommScope in the third quarter valued at about $68,000. Creative Planning purchased a new position in shares of CommScope in the third quarter worth about $73,000. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of CommScope by 10.4% during the second quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock worth $158,000 after purchasing an additional 12,017 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Trading Up 5.3 %

Shares of NASDAQ:COMM opened at $5.54 on Wednesday. The company has a market capitalization of $1.20 billion, a PE ratio of -1.25 and a beta of 1.96. CommScope Holding Company, Inc. has a 12-month low of $0.86 and a 12-month high of $7.19. The business has a 50 day moving average of $5.57 and a two-hundred day moving average of $3.79.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Morgan Stanley increased their price objective on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.50.

CommScope 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.