Bayforest Capital Ltd Makes New Investment 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 bought a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 77,576 shares of the communications equipment provider's stock, valued at approximately $412,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in CommScope during the first quarter worth about $34,000. Tower Research Capital LLC TRC boosted its holdings in shares of CommScope by 67.6% in 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 acquiring an additional 4,026 shares in the last quarter. Caliber Wealth Management LLC KS bought a new position in shares of CommScope in the first quarter valued at approximately $57,000. KBC Group NV bought a new position in shares of CommScope in the first quarter valued at approximately $65,000. Finally, GAMMA Investing LLC boosted its holdings 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 acquiring an additional 14,066 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Stock Performance

Shares of NASDAQ:COMM traded up $0.14 during mid-day trading on Monday, hitting $16.45. The stock had a trading volume of 1,590,729 shares, compared to its average volume of 6,053,555. The company has a market cap of $3.64 billion, a PE ratio of 6.19, a P/E/G ratio of 0.56 and a beta of 2.46. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $16.83. The company's 50 day moving average is $12.57 and its 200-day moving average is $7.90.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.61% and a negative return on equity of 6.29%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm's quarterly revenue was up 31.7% on a year-over-year basis. On average, equities research analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COMM shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a report on Tuesday, June 24th. Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price objective for the company in a report on Tuesday, August 5th. Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Northland Securities set a $20.00 target price on shares of CommScope in a report on Tuesday, August 5th. Finally, Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Company 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.