85,700 Shares in CommScope Holding Company, Inc. $COMM Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP purchased 85,700 shares of CommScope Holding Company, Inc. valued at approximately $455,000 during the first quarter.
• Notable hedge funds, including Goldman Sachs, have significantly increased their holdings in CommScope, with Goldman Sachs raising its position by 244.8%, now owning over 9.4 million shares.
• CommScope recently reported earnings of $0.44 EPS for the quarter, exceeding expectations and showing a 31.7% year-over-year revenue growth, amounting to $1.39 billion.

Caxton Associates LLP bought a new position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 85,700 shares of the communications equipment provider's stock, valued at approximately $455,000.

A number of other hedge funds have also recently modified their holdings of COMM. Goldman Sachs Group Inc. increased its position in shares of CommScope by 244.8% in the first quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider's stock valued at $50,437,000 after acquiring an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. purchased a new position in shares of CommScope in the first quarter valued at about $32,806,000. Nuveen LLC purchased a new position in shares of CommScope in the first quarter valued at about $13,507,000. Shellback Capital LP purchased a new position in shares of CommScope in the first quarter valued at about $6,253,000. Finally, Sculptor Capital LP increased its position in shares of CommScope by 218.7% in the fourth quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider's stock valued at $8,352,000 after acquiring an additional 1,100,000 shares during the period. Hedge funds and other institutional investors own 88.04% of the company's stock.

CommScope Trading Down 1.6%

Shares of COMM opened at $16.31 on Friday. The firm's 50-day moving average price is $12.57 and its 200-day moving average price is $7.88. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 6.13, a PEG ratio of 0.57 and a beta of 2.47. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $16.83.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. CommScope's quarterly revenue was up 31.7% on a year-over-year basis. On average, research analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on COMM shares. Citigroup upgraded shares of CommScope to an "outperform" rating in a research report on Monday, August 4th. Northland Securities set a $20.00 price objective on shares of CommScope in a research report on Tuesday, August 5th. Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $4.00 to $17.00 in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

CommScope 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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