CANADA LIFE ASSURANCE Co Takes $516,000 Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

CANADA LIFE ASSURANCE Co purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 99,349 shares of the communications equipment provider's stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COMM. Vanguard Group Inc. increased its stake in shares of CommScope by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider's stock worth $118,542,000 after acquiring an additional 694,363 shares during the period. Trexquant Investment LP increased its position in CommScope by 381.5% during the 4th quarter. Trexquant Investment LP now owns 799,105 shares of the communications equipment provider's stock worth $4,163,000 after purchasing an additional 633,146 shares during the period. JPMorgan Chase & Co. increased its position in CommScope by 151.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider's stock worth $5,500,000 after purchasing an additional 542,794 shares during the period. Swiss National Bank purchased a new position in shares of CommScope during the 4th quarter worth approximately $2,212,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of CommScope by 10.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider's stock valued at $23,035,000 after buying an additional 421,000 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COMM shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $7.00 target price on shares of CommScope in a report on Thursday, February 27th. JPMorgan Chase & Co. raised shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a report on Tuesday, January 14th. StockNews.com raised shares of CommScope from a "hold" rating to a "buy" rating in a report on Friday, February 28th. Finally, Raymond James lowered CommScope from a "market perform" rating to an "underperform" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $4.75.

CommScope Price Performance

COMM traded up $0.21 during midday trading on Friday, reaching $4.76. 6,326,337 shares of the company's stock were exchanged, compared to its average volume of 4,954,852. The business's 50-day moving average price is $4.64 and its 200 day moving average price is $5.11. The stock has a market capitalization of $1.03 billion, a PE ratio of -1.08, a P/E/G ratio of 0.41 and a beta of 2.06. CommScope Holding Company, Inc. has a 1-year low of $0.92 and a 1-year high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last posted its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company earned ($0.08) EPS. CommScope's revenue was up 23.5% on a year-over-year basis. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal 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.