CommScope Holding Company, Inc. (NASDAQ:COMM) Sees Large Growth in Short Interest

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 14,050,000 shares, a growth of 26.9% from the March 15th total of 11,070,000 shares. Based on an average trading volume of 5,430,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 6.7% of the shares of the company are sold short.

CommScope Trading Up 3.6 %

NASDAQ COMM traded up $0.14 during trading on Friday, reaching $3.94. The company's stock had a trading volume of 2,743,158 shares, compared to its average volume of 4,905,188. The firm has a 50 day moving average price of $4.76 and a 200 day moving average price of $5.19. CommScope has a 12 month low of $0.86 and a 12 month high of $7.19. The firm has a market capitalization of $852.17 million, a price-to-earnings ratio of -0.89, a price-to-earnings-growth ratio of 0.41 and a beta of 1.98.

Institutional Investors Weigh In On CommScope

Large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its position in shares of CommScope by 182.2% during the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after acquiring an additional 5,996,931 shares during the period. LMR Partners LLP acquired a new stake in CommScope during the fourth quarter worth about $14,328,000. Hudson Bay Capital Management LP increased its holdings in CommScope by 150.1% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider's stock valued at $13,028,000 after buying an additional 1,500,558 shares during the period. Sculptor Capital LP raised its position in shares of CommScope by 218.7% in the 4th quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider's stock valued at $8,352,000 after buying an additional 1,100,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of CommScope by 2,124.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 922,803 shares of the communications equipment provider's stock worth $4,808,000 after acquiring an additional 881,322 shares during the period. Institutional investors and hedge funds own 88.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Raymond James downgraded shares of CommScope from a "market perform" rating to an "underperform" rating in a report on Monday, January 6th. StockNews.com raised shares of CommScope from a "hold" rating to a "buy" rating in a report on Friday, February 28th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, CommScope presently has a consensus rating of "Hold" and an average price target of $4.75.

About CommScope

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.