Acadian Asset Management LLC Sells 293,249 Shares of CommScope Holding Company, Inc. $COMM

Key Points

• Acadian Asset Management LLC reduced its holdings in CommScope Holding Company, Inc. by 17.6%, selling 293,249 shares in the first quarter, leaving it with approximately 1.37 million shares valued at $7.27 million.
• CommScope reported $1.39 billion in revenue for the last quarter, exceeding analysts' estimates of $1.27 billion, and posted a quarterly earnings per share (EPS) of $0.44, beating the expected $0.24.
• A few financial institutions, including Deutsche Bank and Goldman Sachs, have increased their holdings in CommScope by significant margins, indicating strong confidence in the company's future potential.

Acadian Asset Management LLC lowered its stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 17.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,369,627 shares of the communications equipment provider's stock after selling 293,249 shares during the period. Acadian Asset Management LLC owned 0.63% of CommScope worth $7,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of COMM. Northern Trust Corp increased its position in shares of CommScope by 13.7% in the 4th quarter. Northern Trust Corp now owns 2,087,160 shares of the communications equipment provider's stock worth $10,874,000 after purchasing an additional 250,761 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of CommScope in the 4th quarter worth about $524,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CommScope by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock valued at $632,000 after buying an additional 5,909 shares during the period. ProShare Advisors LLC boosted its holdings in shares of CommScope by 51.6% in the 4th quarter. ProShare Advisors LLC now owns 60,457 shares of the communications equipment provider's stock valued at $315,000 after buying an additional 20,569 shares during the period. Finally, Sona Asset Management US LLC boosted its holdings in shares of CommScope by 94.9% in the 4th quarter. Sona Asset Management US LLC now owns 1,364,443 shares of the communications equipment provider's stock valued at $7,109,000 after buying an additional 664,443 shares during the period. Institutional investors own 88.04% of the company's stock.

CommScope Trading Up 1.0%

Shares of NASDAQ COMM traded up $0.17 during midday trading on Thursday, reaching $16.47. The company's stock had a trading volume of 1,662,046 shares, compared to its average volume of 6,023,069. The company has a 50 day moving average price of $13.08 and a 200 day moving average price of $8.09. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.83. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.56 and a beta of 2.47.

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 analysts' consensus estimates 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 business earned $0.34 earnings per share. The firm's revenue was up 31.7% compared to the same quarter last year. Research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on COMM. Deutsche Bank Aktiengesellschaft lifted their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a report on Tuesday, June 24th. Wolfe Research started coverage on shares of CommScope in a report on Monday, July 7th. They issued a "peer perform" rating for the company. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price for the company in a research note on Tuesday, August 5th. Finally, Northland Securities set a $20.00 target price on shares of CommScope in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, CommScope currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.

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.