Algert Global LLC Raises Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Algert Global LLC raised its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 170.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 146,745 shares of the communications equipment provider’s stock after acquiring an additional 92,565 shares during the period. Algert Global LLC’s holdings in CommScope were worth $765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of COMM. Vanguard Group Inc. boosted its holdings in CommScope by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock valued at $118,542,000 after acquiring an additional 694,363 shares during the period. Trexquant Investment LP boosted its stake in shares of CommScope by 381.5% during the fourth quarter. Trexquant Investment LP now owns 799,105 shares of the communications equipment provider’s stock valued at $4,163,000 after purchasing an additional 633,146 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of CommScope by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after purchasing an additional 542,794 shares during the last quarter. Swiss National Bank bought a new stake in CommScope during the 4th quarter valued at $2,212,000. Finally, Renaissance Technologies LLC boosted its position in CommScope by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock valued at $23,035,000 after buying an additional 421,000 shares during the period. 88.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COMM shares. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Tuesday, January 14th. StockNews.com upgraded CommScope from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 target price on shares of CommScope in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.75.

CommScope Price Performance

COMM stock opened at $4.82 on Friday. The firm has a 50-day moving average of $4.50 and a 200 day moving average of $5.07. The company has a market cap of $1.04 billion, a P/E ratio of -1.09, a PEG ratio of 0.41 and a beta of 2.06. CommScope Holding Company, Inc. has a 1 year low of $1.00 and a 1 year high of $7.19.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. On average, equities research analysts expect that CommScope Holding Company, Inc. will post -0.24 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.