Vanguard Group Inc. Trims Holdings in CommScope Holding Company, Inc. $COMM

Key Points

• Vanguard Group Inc. reduced its stake in CommScope Holding Company by 2.9%, owning approximately 22.1 million shares valued at $117.3 million.
• CommScope reported $1.39 billion in revenue for the last quarter, exceeding estimates and reflecting a 31.7% increase year-over-year.
• Analyst ratings are mixed, with one research firm upgrading CommScope to "outperform" while another downgraded to "buy," indicating varying confidence in future performance.

Vanguard Group Inc. reduced its position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,097,676 shares of the communications equipment provider's stock after selling 655,061 shares during the quarter. Vanguard Group Inc. owned about 10.20% of CommScope worth $117,339,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE increased its stake in CommScope by 27.0% in the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider's stock valued at $108,000 after buying an additional 4,337 shares during the period. Bayforest Capital Ltd acquired a new position in CommScope in the 1st quarter valued at $412,000. XTX Topco Ltd acquired a new position in CommScope in the 1st quarter valued at $456,000. Federated Hermes Inc. grew its stake in shares of CommScope by 3.2% during the 1st quarter. Federated Hermes Inc. now owns 662,283 shares of the communications equipment provider's stock worth $3,517,000 after purchasing an additional 20,279 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of CommScope by 1,203.4% during the 1st quarter. Mackenzie Financial Corp now owns 163,767 shares of the communications equipment provider's stock worth $870,000 after purchasing an additional 151,202 shares during the period. 88.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COMM has been the topic of a number of recent analyst reports. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Citigroup raised shares of CommScope to an "outperform" rating in a research note on Monday, August 4th. Wolfe Research initiated coverage on shares of CommScope in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Northland Securities set a $20.00 price target on shares of CommScope in a research note on Tuesday, August 5th. One equities 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $14.75.

CommScope Stock Down 2.0%

Shares of CommScope stock traded down $0.33 on Wednesday, hitting $16.13. The company's stock had a trading volume of 5,645,313 shares, compared to its average volume of 11,728,081. CommScope Holding Company, Inc. has a 52-week low of $2.94 and a 52-week high of $16.61. The firm has a fifty day moving average price of $10.54 and a 200-day moving average price of $6.96. The company has a market capitalization of $3.57 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 0.58 and a beta of 2.38.

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, topping 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 for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business's revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current 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.