XTX Topco Ltd Makes New Investment in CommScope Holding Company, Inc. (NASDAQ:COMM)

Key Points

• XTX Topco Ltd acquired 85,807 shares of CommScope Holding Company, Inc. valued at approximately $456,000, as disclosed in a recent SEC filing.
• CommScope reported a 31.7% increase in quarterly revenue year-over-year, totaling $1.39 billion, with an EPS of $0.44 that beat the consensus estimate of $0.24.
• Four analysts have rated CommScope with a hold rating, while others have given a mix of buy and strong buy ratings, reflecting a general consensus rating of "Moderate Buy" with an average price target of $14.75.

XTX Topco Ltd acquired a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 85,807 shares of the communications equipment provider's stock, valued at approximately $456,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of CommScope during the first quarter valued at $143,000. KBC Group NV bought a new position in shares of CommScope during the first quarter valued at $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CommScope by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock valued at $632,000 after purchasing an additional 5,909 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CommScope by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock valued at $3,852,000 after purchasing an additional 41,286 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of CommScope by 986.1% in the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock worth $1,066,000 after acquiring an additional 185,716 shares during the period. 88.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on COMM. Citigroup raised shares of CommScope to an "outperform" rating in a report on Monday, August 4th. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $4.00 to $17.00 in a report on Tuesday, August 5th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price objective for the company in a report on Tuesday, August 5th. Finally, Northland Securities set a $20.00 price objective on shares of CommScope in a report on Tuesday, August 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CommScope currently has an average rating of "Moderate Buy" and an average price target of $14.75.

CommScope Stock Up 1.0%

NASDAQ:COMM traded up $0.15 during mid-day trading on Tuesday, hitting $15.39. 2,466,877 shares of the company traded hands, compared to its average volume of 6,056,203. The stock's fifty day moving average price is $8.23 and its 200-day moving average price is $6.09. CommScope Holding Company, Inc. has a one year low of $2.89 and a one year high of $15.85. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 0.55 and a beta of 2.38.

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

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.