Carronade Capital Management LP Sells 966,295 Shares of CommScope Holding Company, Inc. $COMM

Carronade Capital Management LP lessened its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 48.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,036,180 shares of the communications equipment provider’s stock after selling 966,295 shares during the quarter. CommScope comprises about 0.3% of Carronade Capital Management LP’s investment portfolio, making the stock its 25th largest holding. Carronade Capital Management LP owned about 0.48% of CommScope worth $5,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in shares of 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 worth $52,000 after buying an additional 4,026 shares during the period. Caliber Wealth Management LLC KS bought a new stake in CommScope in the first quarter valued at approximately $57,000. KBC Group NV bought a new position in shares of CommScope during the first quarter worth approximately $65,000. GAMMA Investing LLC increased its stake in shares of CommScope by 717.7% during the first 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 during the period. Finally, WCM Investment Management LLC bought a new position in shares of CommScope during the first quarter worth approximately $86,000. Institutional investors own 88.04% of the company’s stock.

CommScope Trading Up 0.5%

Shares of NASDAQ:COMM opened at $16.04 on Monday. The stock has a market capitalization of $3.55 billion, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 0.57 and a beta of 2.46. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $16.61. The stock’s 50-day moving average price is $10.93 and its 200-day moving average price is $7.14.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on COMM shares. Morgan Stanley raised CommScope from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $4.00 to $17.00 in a report on Tuesday, August 5th. Bank of America upgraded CommScope from an “underperform” rating to a “buy” rating and upped their target price for the company from $4.00 to $20.00 in a research report on Thursday, August 7th. Citigroup raised CommScope to an “outperform” rating in a research report on Monday, August 4th. Northland Capmk upgraded CommScope from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on CommScope from $6.00 to $7.50 and gave the stock a “hold” rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.