Carronade Capital Management LP Raises Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Carronade Capital Management LP increased its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,002,475 shares of the communications equipment provider's stock after purchasing an additional 741,375 shares during the quarter. CommScope makes up approximately 0.6% of Carronade Capital Management LP's portfolio, making the stock its 16th largest position. Carronade Capital Management LP owned about 0.93% of CommScope worth $10,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its holdings in shares of CommScope by 2,124.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 922,803 shares of the communications equipment provider's stock worth $4,808,000 after purchasing an additional 881,322 shares during the last quarter. Vanguard Group Inc. lifted its stake in CommScope by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider's stock valued at $118,542,000 after acquiring an additional 694,363 shares in the last quarter. Trexquant Investment LP grew its stake in CommScope by 381.5% in the fourth quarter. Trexquant Investment LP now owns 799,105 shares of the communications equipment provider's stock valued at $4,163,000 after purchasing an additional 633,146 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CommScope by 151.9% during the third 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. Finally, Swiss National Bank acquired a new position in shares of CommScope in the fourth quarter valued at $2,212,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

Wall Street Analysts Forecast Growth

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

CommScope Stock Up 1.7 %

NASDAQ COMM traded up $0.08 during trading hours on Wednesday, reaching $4.91. The company's stock had a trading volume of 3,898,807 shares, compared to its average volume of 4,958,753. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.11, a PEG ratio of 0.41 and a beta of 2.06. The firm's 50-day moving average price is $4.55 and its 200-day moving average price is $5.09. CommScope Holding Company, Inc. has a 1 year low of $0.98 and a 1 year high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted ($0.08) EPS. CommScope's quarterly revenue was up 23.5% on a year-over-year basis. Equities research analysts anticipate 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.