Headlands Technologies LLC Has $47,000 Stock Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Key Points

• Headlands Technologies LLC drastically reduced its stake in CommScope Holding Company by 94.3%, now holding only 8,912 shares worth $47,000.
• Several institutional investors have significantly increased their investments in CommScope, with Sterling Capital Management LLC raising its stake by 826% in the last quarter.
• CommScope's quarterly earnings beat estimates, reporting an EPS of $0.44 and revenue of $1.39 billion, marking a 31.7% increase year-over-year.

Headlands Technologies LLC lessened its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 94.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,912 shares of the communications equipment provider's stock after selling 147,576 shares during the quarter. Headlands Technologies LLC's holdings in CommScope were worth $47,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in COMM. Deutsche Bank AG grew its holdings in shares of CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after acquiring an additional 5,996,931 shares in the last quarter. LMR Partners LLP bought a new position in shares of CommScope in the 4th quarter valued at about $14,328,000. Hudson Bay Capital Management LP grew its holdings in shares of CommScope by 150.1% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider's stock valued at $13,028,000 after acquiring an additional 1,500,558 shares in the last quarter. Sculptor Capital LP grew its holdings in shares of CommScope by 218.7% in the 4th quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider's stock valued at $8,352,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of CommScope by 2,124.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 922,803 shares of the communications equipment provider's stock valued at $4,808,000 after acquiring an additional 881,322 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Stock Performance

CommScope stock traded up $0.43 during midday trading on Friday, reaching $15.50. 10,744,092 shares of the company's stock were exchanged, compared to its average volume of 6,115,689. CommScope Holding Company, Inc. has a 52 week low of $2.94 and a 52 week high of $15.85. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 5.83, a P/E/G ratio of 0.54 and a beta of 2.38. The stock's 50-day simple moving average is $8.78 and its 200 day simple moving average is $6.29.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on COMM shares. Northland Securities set a $20.00 price objective on CommScope in a report on Tuesday, August 5th. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft raised their price objective on CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a report on Tuesday, June 24th. Northland Capmk upgraded CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Raymond James Financial upgraded CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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.