CommScope (NASDAQ:COMM) Shares Down 5.6% - Here's What Happened

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) were down 5.6% during trading on Monday . The stock traded as low as $5.70 and last traded at $5.70. Approximately 642,344 shares changed hands during trading, a decline of 87% from the average daily volume of 5,120,258 shares. The stock had previously closed at $6.04.

Analyst Ratings Changes

A number of brokerages recently commented on COMM. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $7.00 price target on shares of CommScope in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.75.

CommScope Stock Performance

The company has a market cap of $1.29 billion, a price-to-earnings ratio of -1.35, a PEG ratio of 0.41 and a beta of 2.06. The business's 50 day moving average price is $4.66 and its 200-day moving average price is $5.07.

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, topping 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The firm's quarterly revenue was up 23.5% on a year-over-year basis. On average, equities research analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC lifted its holdings in shares of CommScope by 166.3% during the 1st quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider's stock worth $1,093,000 after acquiring an additional 128,511 shares during the period. Strs Ohio bought a new stake in CommScope in the first quarter valued at approximately $300,000. Bayforest Capital Ltd bought a new position in CommScope during the first quarter worth $412,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CommScope by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 520,677 shares of the communications equipment provider's stock valued at $2,765,000 after purchasing an additional 39,064 shares during the period. Finally, Optimize Financial Inc acquired a new position in CommScope in the first quarter valued at approximately $1,710,000. Institutional investors and hedge funds own 88.04% of the company's stock.

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.