Ieq Capital LLC Makes New Investment in CommScope Holding Company, Inc. $COMM

Key Points

• Ieq Capital LLC acquired a stake of 337,106 shares in CommScope Holding Company, Inc., valued at approximately $1,790,000, representing about 0.16% ownership of the company.
• Several institutional investors, including GAMMA Investing LLC and Tower Research Capital LLC, have significantly increased their stakes in CommScope during the recent quarters.
• Analysts have upgraded CommScope's ratings, with Bank of America raising its target price from $4.00 to $20.00, reflecting a consensus rating of "Moderate Buy" with a target price of $14.75.

Ieq Capital LLC bought a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 337,106 shares of the communications equipment provider's stock, valued at approximately $1,790,000. Ieq Capital LLC owned 0.16% of CommScope as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in COMM. Tower Research Capital LLC TRC boosted its holdings in CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after acquiring an additional 4,026 shares in the last quarter. Caliber Wealth Management LLC KS bought a new position in CommScope during the first quarter valued at approximately $57,000. KBC Group NV bought a new stake in shares of CommScope in the 1st quarter valued at approximately $65,000. GAMMA Investing LLC raised its holdings in shares of CommScope by 717.7% in the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock worth $85,000 after buying an additional 14,066 shares during the period. Finally, WCM Investment Management LLC purchased a new position in CommScope during the 1st quarter worth $86,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COMM has been the subject of a number of recent analyst reports. Citigroup raised CommScope to an "outperform" rating in a research report on Monday, August 4th. Bank of America raised CommScope from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $4.00 to $20.00 in a report on Thursday, August 7th. Northland Securities set a $20.00 price objective on CommScope in a research note on Tuesday, August 5th. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.

CommScope Stock Up 0.9%

NASDAQ:COMM traded up $0.14 during trading hours on Thursday, reaching $16.26. 4,251,495 shares of the company's stock were exchanged, compared to its average volume of 6,125,640. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $16.61. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 0.57 and a beta of 2.47. The company has a 50-day moving average of $11.47 and a 200 day moving average of $7.34.

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 the consensus estimate of $0.24 by $0.20. The firm had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The business's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. Research analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS 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.