CastleKnight Management LP Acquires 56,500 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

CastleKnight Management LP grew its position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 31.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 235,000 shares of the communications equipment provider's stock after acquiring an additional 56,500 shares during the period. CastleKnight Management LP owned 0.11% of CommScope worth $1,224,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Carronade Capital Management LP boosted its stake in shares of CommScope by 58.8% during the fourth quarter. Carronade Capital Management LP now owns 2,002,475 shares of the communications equipment provider's stock valued at $10,433,000 after purchasing an additional 741,375 shares in the last quarter. Balyasny Asset Management L.P. lifted 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 period. Bayesian Capital Management LP grew its stake in shares of CommScope by 25.6% in the fourth quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider's stock worth $115,000 after purchasing an additional 4,500 shares during the last quarter. Algert Global LLC increased its holdings in CommScope by 170.8% in the fourth quarter. Algert Global LLC now owns 146,745 shares of the communications equipment provider's stock valued at $765,000 after purchasing an additional 92,565 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its position in CommScope by 85.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 25,107 shares of the communications equipment provider's stock worth $131,000 after purchasing an additional 11,577 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company's stock.

Analyst Upgrades and Downgrades

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

CommScope Stock Down 1.2 %

COMM stock traded down $0.06 during midday trading on Friday, reaching $4.82. 2,481,246 shares of the company's stock traded hands, compared to its average volume of 4,966,232. The firm's fifty day moving average price is $4.50 and its 200-day moving average price is $5.07. CommScope Holding Company, Inc. has a 52 week low of $1.00 and a 52 week high of $7.19. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -1.09, a P/E/G ratio of 0.41 and a beta of 2.06.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share 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 firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The company's quarterly revenue was up 23.5% on a year-over-year basis. Analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current 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.