Fox Run Management L.L.C. Buys Shares of 17,186 CommScope Holding Company, Inc. $COMM

Fox Run Management L.L.C. bought a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,186 shares of the communications equipment provider’s stock, valued at approximately $142,000.

Several other institutional investors have also recently made changes to their positions in COMM. Bank of New York Mellon Corp grew its holdings in CommScope by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider’s stock worth $3,852,000 after acquiring an additional 41,286 shares in the last quarter. Mariner Investment Group LLC acquired a new position in shares of CommScope during the 2nd quarter worth approximately $207,000. Inspire Investing LLC increased its holdings in shares of CommScope by 166.3% in the first quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider’s stock valued at $1,093,000 after purchasing an additional 128,511 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of CommScope during the 2nd quarter worth approximately $496,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of CommScope by 1,152.3% in the 1st quarter. Allianz Asset Management GmbH now owns 186,600 shares of the communications equipment provider’s stock valued at $991,000 after acquiring an additional 171,700 shares during the period. Institutional investors own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

COMM has been the topic of a number of research analyst reports. Morgan Stanley upgraded CommScope from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.00 to $17.00 in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of CommScope in a research note on Wednesday, October 8th. Citigroup upgraded CommScope to an “outperform” rating in a research report on Monday, August 4th. Northland Capmk upgraded shares of CommScope from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Finally, Raymond James Financial upgraded shares of CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.17.

CommScope Trading Up 0.3%

COMM opened at $16.78 on Friday. The stock’s 50 day simple moving average is $16.04 and its 200-day simple moving average is $11.44. The stock has a market cap of $3.72 billion, a PE ratio of 5.12, a P/E/G ratio of 0.80 and a beta of 2.43. CommScope Holding Company, Inc. has a 1 year low of $2.94 and a 1 year high of $17.98.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.25. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.37 billion. CommScope had a net margin of 17.57% and a negative return on equity of 13.70%. CommScope’s quarterly revenue was up 50.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Equities analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

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.