Balyasny Asset Management L.P. Buys 881,322 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Balyasny Asset Management L.P. grew its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 2,124.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 922,803 shares of the communications equipment provider's stock after acquiring an additional 881,322 shares during the quarter. Balyasny Asset Management L.P. owned 0.43% of CommScope worth $4,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in CommScope during the fourth quarter worth about $27,000. Sterling Capital Management LLC boosted its stake in shares of CommScope by 826.0% in the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock worth $35,000 after buying an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after acquiring an additional 4,026 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of CommScope during the fourth quarter valued at approximately $56,000. Finally, Ballentine Partners LLC bought a new stake in CommScope during the fourth quarter worth $58,000. Institutional investors own 88.04% of the company's stock.

Analysts Set New Price Targets

COMM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $7.00 price objective on shares of CommScope in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of CommScope from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.75.

CommScope Stock Performance

Shares of CommScope stock opened at $4.82 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -1.09, a P/E/G ratio of 0.41 and a beta of 2.06. CommScope Holding Company, Inc. has a 52-week low of $1.00 and a 52-week high of $7.19. The stock's 50-day simple moving average is $4.50 and its 200 day simple moving average is $5.07.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company posted ($0.08) EPS. CommScope's revenue was up 23.5% compared to the same quarter last year. Equities research analysts forecast 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.

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