CommScope Holding Company, Inc. (NASDAQ:COMM) Short Interest Update

CommScope Holding Company, Inc. (NASDAQ:COMMGet Free Report) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 9,430,000 shares, a decrease of 9.8% from the February 29th total of 10,450,000 shares. Based on an average trading volume of 3,000,000 shares, the short-interest ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COMM. StockNews.com cut shares of CommScope from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Northland Securities reaffirmed a “market perform” rating on shares of CommScope in a report on Friday, March 1st. Bank of America lowered their price target on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.27.

Read Our Latest Stock Report on CommScope

Insider Activity

In other CommScope news, Director L William Krause bought 57,300 shares of CommScope stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $1.59 per share, for a total transaction of $91,107.00. Following the completion of the acquisition, the director now directly owns 227,873 shares of the company’s stock, valued at $362,318.07. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On CommScope

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of CommScope by 42.7% during the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock valued at $36,862,000 after purchasing an additional 3,911,673 shares during the period. Bank of America Corp DE boosted its position in CommScope by 59.1% in the 1st quarter. Bank of America Corp DE now owns 8,226,097 shares of the communications equipment provider’s stock worth $52,400,000 after purchasing an additional 3,056,141 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its position 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 worth $52,043,000 after purchasing an additional 2,934,775 shares in the last quarter. Vanguard Group Inc. lifted 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 buying an additional 2,790,362 shares in the last quarter. Finally, 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 valued at $111,616,000 after buying an additional 2,560,861 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

CommScope Price Performance

COMM stock traded down $0.09 during trading on Tuesday, hitting $1.23. 1,455,079 shares of the stock traded hands, compared to its average volume of 3,002,534. The firm’s 50 day moving average is $1.78 and its two-hundred day moving average is $2.16. The stock has a market cap of $261.06 million, a price-to-earnings ratio of -0.17 and a beta of 1.98. CommScope has a 1 year low of $0.89 and a 1 year high of $6.65.

CommScope (NASDAQ:COMMGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). CommScope had a negative return on equity of 7.18% and a negative net margin of 21.64%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.53 billion. As a group, analysts anticipate that CommScope will post -0.29 EPS for the current fiscal year.

About CommScope

(Get Free Report)

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.

Further Reading

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