Graham Capital Management L.P. Boosts Stake in CommScope Holding Company, Inc. $COMM

Key Points

• Graham Capital Management L.P. increased its stake in CommScope Holding Company, Inc. by 47.6% during the first quarter, owning approximately 0.14% of the company valued at $1,582,000.
• Several other investors also boosted their positions in CommScope, with hedge funds and institutional investors now owning 88.04% of the company's stock.
• CommScope reported a strong quarterly earnings result, posting a 31.7% year-over-year revenue increase of $1.39 billion and exceeding earnings per share estimates.

Graham Capital Management L.P. increased its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 47.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 297,929 shares of the communications equipment provider's stock after purchasing an additional 96,129 shares during the quarter. Graham Capital Management L.P. owned 0.14% of CommScope worth $1,582,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after purchasing an additional 4,026 shares during the last quarter. Caliber Wealth Management LLC KS acquired a new position in CommScope during the first quarter worth $57,000. KBC Group NV acquired a new position in CommScope during the first quarter worth $65,000. GAMMA Investing LLC raised its holdings in CommScope by 717.7% during the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock worth $85,000 after purchasing an additional 14,066 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in CommScope during the first quarter worth $86,000. 88.04% of the stock is owned by institutional investors and hedge funds.

CommScope Stock Down 1.5%

Shares of NASDAQ:COMM traded down $0.24 during midday trading on Friday, reaching $16.02. The company's stock had a trading volume of 3,382,204 shares, compared to its average volume of 6,453,005. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 6.02, a price-to-earnings-growth ratio of 0.55 and a beta of 2.47. CommScope Holding Company, Inc. has a 1 year low of $2.94 and a 1 year high of $16.61. The business has a 50 day moving average price of $11.78 and a 200 day moving average price of $7.50.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Northland Securities set a $20.00 price target on CommScope in a report on Tuesday, August 5th. Northland Capmk raised CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Bank of America raised CommScope from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $4.00 to $20.00 in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

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.