Alpine Global Management LLC Makes New Investment in CommScope Holding Company, Inc. $COMM

Alpine Global Management LLC purchased a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 89,716 shares of the communications equipment provider’s stock, valued at approximately $476,000.

Several other institutional investors have also recently made changes to their positions in COMM. Tower Research Capital LLC TRC grew its position in CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 4,026 shares during the period. Caliber Wealth Management LLC KS purchased a new position in shares of CommScope during the 1st quarter worth $57,000. KBC Group NV bought a new stake in shares of CommScope during the 1st quarter valued at $65,000. GAMMA Investing LLC increased its stake in shares of CommScope by 717.7% in the 1st quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 14,066 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in shares of CommScope in the 1st quarter worth $86,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

COMM stock opened at $16.04 on Friday. The company’s fifty day moving average price is $10.93 and its 200-day moving average price is $7.13. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.61. The company has a market capitalization of $3.55 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 0.57 and a beta of 2.38.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. CommScope’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. On average, research analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COMM has been the subject of several recent research reports. Raymond James Financial raised CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Tuesday, August 5th. Wolfe Research initiated coverage on CommScope in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Morgan Stanley raised shares of CommScope from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Citigroup upgraded shares of CommScope to an “outperform” rating in a research note on Monday, August 4th. Finally, Northland Securities set a $20.00 price target on shares of CommScope in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, CommScope currently has an average rating of “Moderate Buy” and an average price target of $14.75.

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.