Bayforest Capital Ltd Acquires New Position in CommScope Holding Company, Inc. $COMM

Key Points

• Bayforest Capital Ltd acquired a new position in CommScope Holding Company by purchasing 77,576 shares, valued at approximately $412,000.
• Analysts have upgraded CommScope's stock ratings, with Bank of America lifting its rating from "underperform" to "buy" and raising the price target significantly from $4.00 to $20.00.
• CommScope reported a 31.7% increase in revenue year-over-year, with quarterly revenue reaching $1.39 billion and earnings per share of $0.44, exceeding estimates.

Bayforest Capital Ltd purchased a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,576 shares of the communications equipment provider's stock, valued at approximately $412,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in shares of CommScope during the 1st quarter valued at about $34,000. Tower Research Capital LLC TRC increased its holdings in shares of CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after acquiring an additional 4,026 shares during the last quarter. Caliber Wealth Management LLC KS acquired a new stake in shares of CommScope during the first quarter worth $57,000. KBC Group NV bought a new position in CommScope in the first quarter worth about $65,000. Finally, GAMMA Investing LLC boosted its position in CommScope by 717.7% during the 1st 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. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COMM has been the topic of several analyst reports. Bank of America upgraded shares of CommScope from an "underperform" rating to a "buy" rating and raised their price target for the company from $4.00 to $20.00 in a research note on Thursday, August 7th. Citigroup raised shares of CommScope to an "outperform" rating in a research note on Monday, August 4th. Northland Capmk raised CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Finally, Northland Securities set a $20.00 target price on CommScope in a research note on Tuesday, August 5th. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.75.

CommScope Price Performance

NASDAQ:COMM opened at $16.19 on Wednesday. The company has a fifty day moving average price of $12.10 and a 200 day moving average price of $7.66. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.61. The stock has a market cap of $3.59 billion, a P/E ratio of 6.09, a PEG ratio of 0.56 and a beta of 2.47.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The company's quarterly revenue was up 31.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

CommScope 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.

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