Staley Capital Advisers Inc. Increases Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Key Points

• Staley Capital Advisers Inc. increased its stake in CommScope Holding Company by 17.5% in the first quarter, now owning 671,200 shares valued at approximately $3.56 million.
• Analysts are optimistic about CommScope, with firms like Northland Capital and Bank of America upgrading their ratings and target prices, suggesting a potential average price target of $14.75.
• CommScope reported better-than-expected quarterly earnings, with an EPS of $0.44 and revenues of $1.39 billion, exceeding analyst estimates and reflecting a 31.7% year-over-year growth.

Staley Capital Advisers Inc. boosted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 17.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 671,200 shares of the communications equipment provider's stock after buying an additional 100,000 shares during the period. Staley Capital Advisers Inc. owned approximately 0.31% of CommScope worth $3,564,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in shares of CommScope by 826.0% in the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after acquiring an additional 6,030 shares during the period. Tower Research Capital LLC TRC raised its stake 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 during the period. Caliber Wealth Management LLC KS purchased a new stake in shares of CommScope during the first quarter valued at $57,000. Covestor Ltd purchased a new stake in shares of CommScope during the fourth quarter valued at $62,000. Finally, KBC Group NV purchased a new stake in shares of CommScope during the first quarter valued at $65,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Stock Performance

COMM stock traded up $0.01 during trading on Tuesday, reaching $15.25. 6,848,376 shares of the company traded hands, compared to its average volume of 10,101,926. The business has a 50 day simple moving average of $8.41 and a 200 day simple moving average of $6.16. CommScope Holding Company, Inc. has a 12 month low of $2.89 and a 12 month high of $15.85. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.54 and a beta of 2.38.

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 business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the business earned $0.34 EPS. The company's revenue was up 31.7% compared to the same quarter last year. As a group, research analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Analyst Ratings Changes

COMM has been the subject of a number of recent analyst reports. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price for the company in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Wolfe Research started coverage on CommScope in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Bank of America raised shares of CommScope from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $4.00 to $20.00 in a research note on Thursday, August 7th. Finally, Citigroup raised shares of CommScope to an "outperform" rating in a research note on Monday, August 4th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.