GK Wealth Management LLC Purchases New Position in CommScope Holding Company, Inc. $COMM

Key Points

• GK Wealth Management LLC has invested approximately $181,000 in CommScope Holding Company, acquiring 21,839 shares in the second quarter.
• CommScope reported a quarterly earnings per share of $0.44, exceeding analysts' expectations and marking a year-over-year revenue increase of 31.7%.
• Analyst ratings for CommScope show it has an average rating of "Moderate Buy", with target prices ranging from $7.50 to $20.00 as per several major firms.

GK Wealth Management LLC purchased a new position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,839 shares of the communications equipment provider's stock, valued at approximately $181,000.

Other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in shares of CommScope in the first quarter worth $34,000. Caliber Wealth Management LLC KS bought a new position in shares of CommScope in the first quarter worth $57,000. KBC Group NV bought a new position in CommScope in the first quarter valued at $65,000. GAMMA Investing LLC increased its stake in CommScope by 717.7% in the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock valued at $85,000 after acquiring an additional 14,066 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in CommScope in the first quarter valued at $86,000. Institutional investors own 88.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COMM. Wolfe Research began coverage on CommScope in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $4.00 to $17.00 in a research note on Tuesday, August 5th. Citigroup raised CommScope to an "outperform" rating in a research note on Monday, August 4th. Northland Capmk raised CommScope from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Raymond James Financial raised CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price on the stock in a research note on Tuesday, August 5th. One 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 stock. According to data from MarketBeat, CommScope presently has an average rating of "Moderate Buy" and a consensus price target of $14.75.

CommScope Price Performance

COMM traded down $0.09 on Friday, hitting $16.45. The company had a trading volume of 9,964,645 shares, compared to its average volume of 5,014,175. CommScope Holding Company, Inc. has a 52-week low of $2.94 and a 52-week high of $16.98. The stock has a fifty day simple moving average of $13.43 and a 200-day simple moving average of $8.23. The firm has a market capitalization of $3.64 billion, a P/E ratio of 6.18, a P/E/G ratio of 0.57 and a beta of 2.47.

CommScope (NASDAQ:COMM - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business posted $0.34 earnings per share. CommScope's quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal 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.