CommScope Holding Company, Inc. $COMM Shares Sold by Acadian Asset Management LLC

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 decreased its stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 approximately 0.63% of CommScope worth $7,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of CommScope in the first quarter valued at about $34,000. Caliber Wealth Management LLC KS acquired a new stake in shares of CommScope in the first quarter valued at about $57,000. KBC Group NV acquired a new stake in shares of CommScope in the first quarter valued at about $65,000. GAMMA Investing LLC lifted its stake in shares of CommScope by 717.7% in the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock valued at $85,000 after purchasing an additional 14,066 shares during the period. Finally, WCM Investment Management LLC acquired a new position in CommScope during the first quarter worth about $86,000. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Price Performance

COMM stock traded up $0.34 during midday trading on Monday, reaching $16.65. 5,701,881 shares of the company's stock traded hands, compared to its average volume of 5,495,190. The company has a market capitalization of $3.69 billion, a P/E ratio of 6.26, a PEG ratio of 0.56 and a beta of 2.46. CommScope Holding Company, Inc. has a fifty-two week low of $2.94 and a fifty-two week high of $16.83. The business has a 50-day moving average price of $12.74 and a two-hundred day moving average price of $7.97.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COMM shares. Northland Securities set a $20.00 target price on shares of CommScope in a research report on Tuesday, August 5th. Citigroup upgraded shares of CommScope to an "outperform" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $4.00 to $17.00 in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, CommScope currently has an average rating of "Moderate Buy" and a consensus target price of $14.75.

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.