Counterpoint Mutual Funds LLC Acquires New Position in CommScope Holding Company, Inc. $COMM

Key Points

• Counterpoint Mutual Funds LLC acquired a new position in CommScope Holding Company by buying 54,139 shares valued at approximately $448,000 during the second quarter.
• CommScope has seen several analyst upgrades, with Bank of America raising its rating from "underperform" to "buy" and increasing the price target from $4.00 to $20.00.
• The company's recent earnings report showed a revenue of $1.39 billion, surpassing estimates, and an EPS of $0.44, beating the consensus of $0.24.

Counterpoint Mutual Funds LLC bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 54,139 shares of the communications equipment provider's stock, valued at approximately $448,000.

Several other institutional investors also recently bought and sold shares of the business. Banque Transatlantique SA purchased a new position in shares of CommScope during the 1st quarter worth $34,000. Caliber Wealth Management LLC KS acquired a new position in CommScope in the first quarter valued at $57,000. KBC Group NV purchased a new position in CommScope during the first quarter worth about $65,000. GAMMA Investing LLC boosted its stake in CommScope by 717.7% in the 1st quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock worth $85,000 after buying an additional 14,066 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in CommScope in the 1st quarter worth about $86,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COMM has been the subject of a number of research analyst reports. Bank of America raised shares of CommScope from an "underperform" rating to a "buy" rating and upped their price objective for the company from $4.00 to $20.00 in a research note on Thursday, August 7th. Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price for the company in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. Finally, Northland Securities set a $20.00 target price on CommScope in a research report 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 issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Price Performance

NASDAQ:COMM opened at $16.19 on Wednesday. The firm has a 50-day moving average of $13.79 and a two-hundred day moving average of $8.40. The stock has a market cap of $3.59 billion, a P/E ratio of 6.09, a PEG ratio of 0.59 and a beta of 2.47. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $17.13.

CommScope (NASDAQ:COMM - Get Free Report) last announced its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The company's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, equities analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

CommScope 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.

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