Renaissance Technologies LLC Boosts Stock Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Renaissance Technologies LLC grew its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,421,300 shares of the communications equipment provider’s stock after purchasing an additional 421,000 shares during the period. Renaissance Technologies LLC owned about 2.05% of CommScope worth $23,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in CommScope in the 4th quarter worth about $27,000. National Bank of Canada FI grew its stake in CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 2,857 shares in the last quarter. Sciencast Management LP purchased a new position in shares of CommScope during the fourth quarter worth approximately $56,000. Ballentine Partners LLC bought a new stake in shares of CommScope during the fourth quarter valued at approximately $58,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of CommScope in the fourth quarter valued at approximately $60,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Stock Down 2.3 %

NASDAQ:COMM opened at $3.36 on Friday. The firm has a 50 day moving average of $5.05 and a 200 day moving average of $5.35. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19. The stock has a market capitalization of $727.64 million, a price-to-earnings ratio of -0.76, a PEG ratio of 0.41 and a beta of 1.98.

Analyst Ratings Changes

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

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.