CommScope (NASDAQ:COMM) Stock Price Down 17.7% – Here’s Why

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price traded down 17.7% during trading on Thursday . The stock traded as low as $4.67 and last traded at $4.44. 1,123,818 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,641,323 shares. The stock had previously closed at $5.39.

Analyst Ratings Changes

COMM has been the subject of a number of recent analyst reports. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.75.

CommScope Price Performance

The firm’s 50 day simple moving average is $5.31 and its two-hundred day simple moving average is $5.50. The firm has a market capitalization of $905.22 million, a P/E ratio of -0.95, a P/E/G ratio of 0.41 and a beta of 1.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COMM. Deutsche Bank AG grew its holdings in CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock worth $48,396,000 after acquiring an additional 5,996,931 shares during the last quarter. LMR Partners LLP bought a new stake in shares of CommScope in the fourth quarter worth about $14,328,000. Hudson Bay Capital Management LP increased its holdings in CommScope by 150.1% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider’s stock valued at $13,028,000 after purchasing an additional 1,500,558 shares during the period. Sculptor Capital LP raised its position in CommScope by 218.7% during the 4th quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider’s stock valued at $8,352,000 after purchasing an additional 1,100,000 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in CommScope by 29.3% in the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after buying an additional 975,200 shares during the period. 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.