Trexquant Investment LP Sells 400,030 Shares of 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 cut its stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 50.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 approximately 0.18% of CommScope worth $2,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COMM. Wealth Enhancement Advisory Services LLC bought a new stake in shares of CommScope in the first quarter valued at about $143,000. KBC Group NV acquired a new position in CommScope in the 1st quarter valued at approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CommScope by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock worth $632,000 after acquiring an additional 5,909 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of CommScope by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock worth $3,852,000 after purchasing an additional 41,286 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of 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 valued at $52,000 after purchasing an additional 4,026 shares during the period. Institutional investors own 88.04% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America raised CommScope from an "underperform" rating to a "buy" rating and raised their target price for the stock from $4.00 to $20.00 in a research report on Thursday, August 7th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Morgan Stanley upgraded shares of 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. Northland Securities set a $20.00 price target on shares of CommScope in a research report on Tuesday, August 5th. Finally, Raymond James Financial upgraded shares of 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.75.

CommScope Price Performance

Shares of COMM stock traded up $0.17 during trading hours on Monday, reaching $16.19. The company had a trading volume of 4,544,729 shares, compared to its average volume of 6,100,232. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $16.61. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.55 and a beta of 2.46. The company has a 50 day moving average of $11.94 and a 200 day moving average of $7.60.

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 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 the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The firm's revenue was up 31.7% on a year-over-year basis. As a group, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

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.