Alpine Global Management LLC Acquires Shares of 89,716 CommScope Holding Company, Inc. $COMM

Key Points

• Alpine Global Management LLC has acquired 89,716 shares of CommScope Holding Company, Inc., valued at approximately $476,000, in the first quarter of the year.
• CommScope's stock has shown significant growth with a 12-month increase of approximately 31.7% in revenue, and it recently reported a positive earnings per share of $0.44, exceeding analysts' expectations.
• A majority of 88.04% of CommScope's stock is owned by institutional investors, indicating strong confidence in the company's performance and future prospects.

Alpine Global Management LLC bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 89,716 shares of the communications equipment provider's stock, valued at approximately $476,000.

A number of other hedge funds also recently bought and sold shares of COMM. Deutsche Bank AG raised its position in CommScope by 182.2% during the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after purchasing an additional 5,996,931 shares during the last quarter. LMR Partners LLP purchased a new position in shares of CommScope during the fourth quarter valued at approximately $14,328,000. Nuveen LLC bought a new position in shares of CommScope during the first quarter valued at approximately $13,507,000. Hudson Bay Capital Management LP lifted its stake in CommScope by 150.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider's stock worth $13,028,000 after acquiring an additional 1,500,558 shares during the period. Finally, Sculptor Capital LP boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 88.04% of the company's stock.

CommScope Trading Up 0.5%

CommScope stock opened at $16.04 on Friday. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $16.61. The stock has a fifty day simple moving average of $10.93 and a two-hundred day simple moving average of $7.13. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 6.03, a PEG ratio of 0.57 and a beta of 2.38.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 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 company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the firm posted $0.34 earnings per share. CommScope's revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on COMM shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $4.00 to $17.00 in a research note on Tuesday, August 5th. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America upgraded CommScope from an "underperform" rating to a "buy" rating and raised their target price for the company from $4.00 to $20.00 in a research note on Thursday, August 7th. Finally, Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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