Voloridge Investment Management LLC Grows Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Voloridge Investment Management LLC grew its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 38.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,873,147 shares of the communications equipment provider's stock after buying an additional 522,941 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.87% of CommScope worth $9,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC acquired a new stake in CommScope in the fourth quarter worth about $58,000. SG Americas Securities LLC lifted its stake in CommScope by 130.6% in the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider's stock valued at $238,000 after acquiring an additional 25,855 shares in the last quarter. Inspire Investing LLC increased its position in shares of CommScope by 15.0% during the 4th quarter. Inspire Investing LLC now owns 77,276 shares of the communications equipment provider's stock worth $403,000 after purchasing an additional 10,089 shares during the last quarter. AA Financial Advisors LLC increased its position in shares of CommScope by 5.8% during the 4th quarter. AA Financial Advisors LLC now owns 543,660 shares of the communications equipment provider's stock worth $2,832,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of CommScope by 7.0% during the 4th quarter. Rhumbline Advisers now owns 361,637 shares of the communications equipment provider's stock worth $1,884,000 after purchasing an additional 23,813 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COMM. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Wall Street Zen downgraded CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.75.

CommScope Stock Down 3.7%

CommScope stock traded down $0.23 during mid-day trading on Friday, reaching $6.05. 1,191,529 shares of the company's stock were exchanged, compared to its average volume of 5,136,064. The business's fifty day simple moving average is $4.65 and its 200 day simple moving average is $5.04. The firm has a market capitalization of $1.31 billion, a PE ratio of -1.38, a P/E/G ratio of 0.41 and a beta of 2.06. CommScope Holding Company, Inc. has a one year low of $1.05 and a one year high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company's revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. On average, sell-side analysts forecast 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.