Baird Financial Group Inc. Sells 46,623 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Baird Financial Group Inc. lowered its position in CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) by 72.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,293 shares of the communications equipment provider’s stock after selling 46,623 shares during the quarter. Baird Financial Group Inc.’s holdings in CommScope were worth $106,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CommScope by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 27,002,559 shares of the communications equipment provider’s stock valued at $212,781,000 after acquiring an additional 2,790,362 shares in the last quarter. FPR Partners LLC grew its stake in shares of CommScope by 1.0% in the 1st quarter. FPR Partners LLC now owns 19,673,018 shares of the communications equipment provider’s stock valued at $155,023,000 after purchasing an additional 200,000 shares during the period. Wellington Management Group LLP raised its holdings in shares of CommScope by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 18,146,557 shares of the communications equipment provider’s stock worth $142,995,000 after buying an additional 195,374 shares in the last quarter. BlackRock Inc. lifted its position in shares of CommScope by 22.1% during the 1st quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock worth $111,616,000 after buying an additional 2,560,861 shares during the period. Finally, Lyrical Asset Management LP boosted its stake in CommScope by 9.4% in the 1st quarter. Lyrical Asset Management LP now owns 9,015,148 shares of the communications equipment provider’s stock valued at $71,039,000 after buying an additional 770,938 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

CommScope Stock Performance

NASDAQ:COMM opened at $9.15 on Friday. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -5.83, a P/E/G ratio of 0.26 and a beta of 1.89. The stock’s fifty day moving average price is $10.74 and its two-hundred day moving average price is $9.26. CommScope Holding Company, Inc. has a 52-week low of $5.56 and a 52-week high of $13.73.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Credit Suisse Group upgraded CommScope from a “neutral” rating to an “outperform” rating and upped their price target for the company from $11.00 to $17.00 in a research report on Tuesday, October 4th. TheStreet raised shares of CommScope from a “d+” rating to a “c-” rating in a report on Wednesday, October 19th. StockNews.com started coverage on shares of CommScope in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of CommScope from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Morgan Stanley increased their price target on CommScope from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.44.

CommScope Company Profile

(Get Rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

See Also

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating).

Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

Receive News & Ratings for CommScope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommScope and related companies with MarketBeat.com's FREE daily email newsletter.