Caliber Wealth Management LLC KS Boosts Stake in CommScope Holding Company, Inc. $COMM

Caliber Wealth Management LLC KS lifted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 70.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,200 shares of the communications equipment provider’s stock after purchasing an additional 7,500 shares during the period. Caliber Wealth Management LLC KS’s holdings in CommScope were worth $151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of CommScope in the first quarter worth about $34,000. KBC Group NV purchased a new position in shares of CommScope in the first quarter worth about $65,000. GAMMA Investing LLC lifted its stake in shares of CommScope by 717.7% in the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider’s stock worth $85,000 after buying an additional 14,066 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of CommScope in the first quarter worth about $86,000. Finally, National Bank of Canada FI lifted its stake in shares of CommScope by 1,783.8% in the first quarter. National Bank of Canada FI now owns 16,182 shares of the communications equipment provider’s stock worth $86,000 after buying an additional 15,323 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COMM. Morgan Stanley raised shares of CommScope from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $4.00 to $17.00 in a research note on Tuesday, August 5th. Bank of America upgraded shares of CommScope from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $20.00 in a research report on Thursday, August 7th. Raymond James Financial upgraded shares of CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Tuesday, August 5th. Citigroup upgraded shares of CommScope to an “outperform” rating in a research report on Monday, August 4th. Finally, Wolfe Research assumed coverage on shares of CommScope in a research report on Monday, July 7th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.75.

CommScope Trading Down 0.4%

CommScope stock opened at $15.58 on Thursday. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $17.13. The stock has a market cap of $3.45 billion, a P/E ratio of 5.86, a PEG ratio of 0.54 and a beta of 2.42. The company has a 50-day moving average price of $15.82 and a 200 day moving average price of $9.87.

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