GK Wealth Management LLC Invests $181,000 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 shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,839 shares of the communications equipment provider's stock, valued at approximately $181,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in shares of CommScope during the first quarter valued at approximately $34,000. Caliber Wealth Management LLC KS bought a new stake in shares of CommScope during the 1st quarter worth approximately $57,000. KBC Group NV purchased a new position in CommScope during the 1st quarter valued at $65,000. GAMMA Investing LLC grew its position in CommScope by 717.7% in the 1st 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 purchased a new stake in CommScope in the first quarter worth $86,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Trading Up 2.1%

Shares of NASDAQ COMM opened at $16.65 on Tuesday. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $16.83. The stock's fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $7.97. The stock has a market capitalization of $3.69 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 0.56 and a beta of 2.46.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The firm had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the business posted $0.34 EPS. The firm's quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

COMM has been the topic of a number of research analyst reports. Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Tuesday, August 5th. Bank of America raised CommScope from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $4.00 to $20.00 in a research note on Thursday, August 7th. Finally, Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. One investment 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.75.

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.

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