Aigen Investment Management LP Buys New Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Aigen Investment Management LP bought a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,636 shares of the communications equipment provider’s stock, valued at approximately $352,000.

Other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in CommScope in the third quarter valued at approximately $31,000. Belvedere Trading LLC acquired a new position in shares of CommScope during the third quarter worth approximately $68,000. Creative Planning acquired a new position in shares of CommScope during the third quarter worth approximately $73,000. Hanseatic Management Services Inc. acquired a new position in shares of CommScope during the third quarter worth approximately $76,000. Finally, Traynor Capital Management Inc. acquired a new position in shares of CommScope during the third quarter worth approximately $98,000. 88.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on COMM shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Morgan Stanley lifted their price objective on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Northland Securities boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, CommScope has a consensus rating of “Hold” and an average target price of $2.50.

CommScope Stock Down 6.5 %

Shares of COMM opened at $4.15 on Friday. The business’s 50-day moving average price is $5.85 and its 200-day moving average price is $3.31. CommScope Holding Company, Inc. has a twelve month low of $0.86 and a twelve month high of $7.19. The stock has a market cap of $895.90 million, a PE ratio of -0.96, a P/E/G ratio of 0.20 and a beta of 2.09.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

CommScope Company 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.