Assenagon Asset Management S.A. Grows Stock Position in CommScope Holding Company, Inc. $COMM

Key Points

• Assenagon Asset Management S.A. increased its stake in CommScope Holding Company by 55.8% during Q2, owning approximately 1.58 million shares valued at $13.07 million.
• CommScope's stock price has shown significant volatility, maintaining a twelve-month low of $2.94 and a high of $17.06, with the recent trading price around $16.99.
• Analysts have upgraded CommScope from "underperform" to "buy" ratings, with target price adjustments ranging from $4.00 to $20.00, indicating a positive outlook for the stock.

Assenagon Asset Management S.A. boosted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 55.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,579,078 shares of the communications equipment provider's stock after buying an additional 565,697 shares during the period. Assenagon Asset Management S.A. owned approximately 0.73% of CommScope worth $13,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Range Financial Group LLC raised its holdings in CommScope by 6.2% during the 2nd quarter. Range Financial Group LLC now owns 203,556 shares of the communications equipment provider's stock valued at $1,685,000 after buying an additional 11,903 shares during the period. GK Wealth Management LLC bought a new stake in shares of CommScope during the 2nd quarter worth approximately $181,000. Inspire Investing LLC lifted its stake in shares of CommScope by 166.3% during the 1st quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider's stock worth $1,093,000 after acquiring an additional 128,511 shares during the last quarter. Strs Ohio bought a new stake in shares of CommScope during the 1st quarter worth approximately $300,000. Finally, Bayforest Capital Ltd bought a new stake in shares of CommScope during the 1st quarter worth approximately $412,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

CommScope Trading Up 3.3%

NASDAQ COMM opened at $16.99 on Tuesday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.57 and a beta of 2.46. CommScope Holding Company, Inc. has a twelve month low of $2.94 and a twelve month high of $17.06. The stock has a 50-day moving average of $13.61 and a 200 day moving average of $8.34.

CommScope (NASDAQ:COMM - Get Free Report) last announced its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.27 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business's revenue was up 31.7% compared to the same quarter last year. Equities analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on COMM shares. Bank of America raised CommScope from an "underperform" rating to a "buy" rating and raised their price target for the stock from $4.00 to $20.00 in a research note on Thursday, August 7th. Raymond James Financial raised CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Tuesday, August 5th. Northland Capmk raised CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. 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's stock. According to data from MarketBeat.com, the company currently has an average 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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