Jacobs Levy Equity Management Inc. Decreases Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Jacobs Levy Equity Management Inc. lowered its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 56.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,126,006 shares of the communications equipment provider’s stock after selling 2,798,949 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in CommScope were worth $12,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in CommScope during the 3rd quarter worth about $31,000. Belvedere Trading LLC purchased a new position in shares of CommScope during the 3rd quarter valued at approximately $68,000. Creative Planning purchased a new position in shares of CommScope during the 3rd quarter valued at approximately $73,000. Hanseatic Management Services Inc. acquired a new stake in CommScope in the 3rd quarter valued at $76,000. Finally, Fore Capital LLC boosted its stake in CommScope by 36.5% during the 2nd quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Stock Up 11.9 %

Shares of COMM opened at $5.36 on Thursday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -1.21 and a beta of 1.95. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19. The stock has a 50 day moving average price of $5.62 and a 200 day moving average price of $3.69.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, equities analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on COMM shares. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Northland Securities boosted their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, CommScope has an average rating of “Hold” and an average 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.