Trexquant Investment LP Has $2.12 Million Stock Position in CommScope Holding Company, Inc. $COMM

Key Points

• Trexquant Investment LP reduced its holdings in CommScope by 50.1%, owning 399,075 shares after selling 400,030 shares in the first quarter.
• Several institutional investors, including Tower Research Capital LLC and GAMMA Investing LLC, have also adjusted their positions, leading to a total of 88.04% of the stock held by institutional investors.
• CommScope reported better-than-expected quarterly earnings with an EPS of $0.44, significantly beating the consensus estimate of $0.24.

Trexquant Investment LP lowered its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 50.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 399,075 shares of the communications equipment provider's stock after selling 400,030 shares during the period. Trexquant Investment LP owned 0.18% of CommScope worth $2,119,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of COMM. Tower Research Capital LLC TRC grew its holdings in 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 worth $52,000 after purchasing an additional 4,026 shares during the period. Caliber Wealth Management LLC KS bought a new position in CommScope during the first quarter worth about $57,000. KBC Group NV bought a new position in CommScope during the first quarter worth about $65,000. GAMMA Investing LLC grew its holdings in CommScope by 717.7% during the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock worth $85,000 after purchasing an additional 14,066 shares during the period. Finally, WCM Investment Management LLC bought a new position in CommScope during the first quarter worth about $86,000. Institutional investors own 88.04% of the company's stock.

CommScope Stock Performance

Shares of NASDAQ COMM traded up $0.03 during midday trading on Wednesday, reaching $16.22. The company's stock had a trading volume of 5,945,166 shares, compared to its average volume of 5,839,322. CommScope Holding Company, Inc. has a fifty-two week low of $2.94 and a fifty-two week high of $16.83. The business's 50 day moving average price is $12.26 and its two-hundred day moving average price is $7.72. The company has a market cap of $3.59 billion, a P/E ratio of 6.10, a P/E/G ratio of 0.56 and a beta of 2.47.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm's quarterly revenue was up 31.7% on a year-over-year basis. Sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on COMM shares. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $4.00 to $17.00 in a research report on Tuesday, August 5th. Wolfe Research initiated coverage on shares of CommScope in a research report on Monday, July 7th. They set a "peer perform" rating for the company. 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 report on Tuesday, June 24th. Finally, Bank of America upgraded shares of CommScope from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $4.00 to $20.00 in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, CommScope presently 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.