SG Americas Securities LLC Boosts Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

SG Americas Securities LLC boosted its stake in CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) by 8.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 74,943 shares of the communications equipment provider’s stock after acquiring an additional 5,701 shares during the period. SG Americas Securities LLC’s holdings in CommScope were worth $690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COMM. Wolf Hill Capital Management LP purchased a new stake in CommScope in the 2nd quarter valued at approximately $22,785,000. Weiss Multi Strategy Advisers LLC lifted its stake in CommScope by 80.0% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 6,604,444 shares of the communications equipment provider’s stock valued at $52,043,000 after buying an additional 2,934,775 shares in the last quarter. Vanguard Group Inc. lifted its stake in CommScope by 11.5% in 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 buying an additional 2,790,362 shares in the last quarter. BlackRock Inc. raised its holdings in CommScope by 22.1% in the 1st quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock valued at $111,616,000 after acquiring an additional 2,560,861 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in CommScope by 95.0% in the 2nd quarter. Northern Trust Corp now owns 2,085,739 shares of the communications equipment provider’s stock valued at $12,765,000 after acquiring an additional 1,016,210 shares during the last quarter. Hedge funds and other institutional investors own 90.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Credit Suisse Group reiterated an “outperform” rating and issued a $17.00 price target on shares of CommScope in a report on Wednesday, December 21st. Morgan Stanley cut their price target on CommScope from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, December 13th. Bank of America upgraded CommScope from an “underperform” rating to a “buy” rating and boosted their price target for the company from $8.00 to $15.00 in a report on Thursday, January 12th. JPMorgan Chase & Co. cut their price target on CommScope from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, December 20th. Finally, StockNews.com initiated coverage on CommScope in a report on Wednesday, October 12th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.88.

CommScope Stock Performance

Shares of NASDAQ COMM opened at $8.84 on Friday. CommScope Holding Company, Inc. has a 12-month low of $5.56 and a 12-month high of $13.73. The company has a market cap of $1.84 billion, a P/E ratio of -5.63, a P/E/G ratio of 0.19 and a beta of 1.78. The stock has a fifty day moving average price of $8.14 and a 200 day moving average price of $9.51.

CommScope (NASDAQ:COMMGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CommScope had a negative return on equity of 87.03% and a negative net margin of 2.90%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, sell-side analysts forecast that CommScope Holding Company, Inc. will post 1.45 EPS for the current fiscal year.

About CommScope

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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.

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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