CommScope (NASDAQ:COMM) Stock Price Up 6.1% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM) shares traded up 6.1% on Wednesday . The stock traded as high as $5.20 and last traded at $5.08. 366,625 shares changed hands during trading, a decline of 91% from the average session volume of 4,157,017 shares. The stock had previously closed at $4.79.

Analyst Ratings Changes

A number of research analysts have weighed in on COMM shares. Northland Securities boosted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Morgan Stanley upped their price objective on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.50.

CommScope Stock Performance

The stock’s 50 day moving average is $5.61 and its 200 day moving average is $3.70. The company has a market capitalization of $1.15 billion, a PE ratio of -1.21 and a beta of 1.95.

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 return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently modified their holdings of the company. Monarch Alternative Capital LP purchased a new stake in shares of CommScope in the third quarter worth $16,623,000. Cubist Systematic Strategies LLC purchased a new stake in shares of CommScope in the 2nd quarter valued at about $144,000. XTX Topco Ltd boosted its position in shares of CommScope by 263.1% during the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after acquiring an additional 143,654 shares during the last quarter. Marathon Asset Management LP grew its holdings in shares of CommScope by 75.0% during the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of CommScope in the second quarter worth approximately $140,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.