Headlands Technologies LLC Sells 147,576 Shares of 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 stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 94.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of COMM. Wealth Enhancement Advisory Services LLC purchased a new position in CommScope in the 1st quarter worth about $143,000. KBC Group NV purchased a new position in CommScope in the 1st quarter worth about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CommScope by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock worth $632,000 after buying an additional 5,909 shares during the last quarter. Bank of New York Mellon Corp raised its position in CommScope by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock worth $3,852,000 after buying an additional 41,286 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of CommScope by 986.1% during the 4th quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock valued at $1,066,000 after purchasing an additional 185,716 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company's stock.

Wall Street Analysts Forecast Growth

COMM has been the subject of several research reports. Wolfe Research initiated coverage on shares of CommScope in a research report on Monday, July 7th. They set a "peer perform" rating for the company. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Northland Securities set a $20.00 price target on shares of CommScope in a research report on Tuesday, August 5th. 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 report on Tuesday, August 5th. Finally, Wall Street Zen downgraded CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $14.75.

CommScope Stock Up 2.9%

COMM stock traded up $0.43 during midday trading on Friday, hitting $15.50. The company's stock had a trading volume of 10,744,092 shares, compared to its average volume of 10,341,503. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $15.85. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 2.38. The company has a 50 day moving average of $8.97 and a two-hundred day moving average of $6.38.

CommScope (NASDAQ:COMM - Get Free Report) last posted its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. CommScope's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. On average, analysts anticipate 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.