CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its holdings in CommScope by 1,152.3%, acquiring an additional 171,700 shares, bringing its total to 186,600 shares worth approximately $991,000.
• Several other institutional investors, including Hussman Strategic Advisors and Bank of New York Mellon Corp, also raised their stakes in CommScope during the first quarter.
• Analysts have mixed ratings for CommScope, with a consensus rating of "Hold" and a target price of $4.88; Deutsche Bank recently adjusted its price target from $6.00 to $7.50 with a "hold" rating.

Allianz Asset Management GmbH lifted its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 1,152.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,600 shares of the communications equipment provider's stock after purchasing an additional 171,700 shares during the period. Allianz Asset Management GmbH owned 0.09% of CommScope worth $991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in CommScope in the fourth quarter worth about $27,000. Sterling Capital Management LLC increased its stake in shares of CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 6,030 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 4,026 shares in the last quarter. Covestor Ltd bought a new stake in shares of CommScope during the fourth quarter valued at approximately $62,000. Finally, KBC Group NV bought a new stake in shares of CommScope during the first quarter valued at approximately $65,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

CommScope Trading Down 5.0%

Shares of NASDAQ COMM traded down $0.41 during midday trading on Friday, reaching $7.79. The company had a trading volume of 7,326,306 shares, compared to its average volume of 4,105,454. The business's 50-day simple moving average is $7.16 and its 200 day simple moving average is $5.70. The stock has a market cap of $1.69 billion, a P/E ratio of 2.85, a P/E/G ratio of 0.24 and a beta of 2.38. CommScope Holding Company, Inc. has a 1 year low of $1.93 and a 1 year high of $8.68.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The business's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. 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 note on Tuesday, May 13th. Finally, Wolfe Research began coverage on shares of CommScope in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.88.

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.