Inspire Investing LLC Acquires 128,511 Shares of CommScope Holding Company, Inc. $COMM

Key Points

• Inspire Investing LLC significantly increased its stake in CommScope by 166.3%, acquiring 128,511 shares during the first quarter, bringing its total to 205,787 shares valued at approximately $1,093,000.
• Various hedge funds have recently made moves in CommScope's stock, with institutional investors now owning 88.04% of the company's shares.
• CommScope reported strong quarterly earnings, with an EPS of $0.44, surpassing estimates and showing a revenue growth of 31.7% compared to the previous year.

Inspire Investing LLC lifted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 166.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,787 shares of the communications equipment provider's stock after purchasing an additional 128,511 shares during the quarter. Inspire Investing LLC owned 0.10% of CommScope worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in COMM. Strs Ohio acquired a new position in CommScope in the 1st quarter valued at approximately $300,000. Bayforest Capital Ltd acquired a new position in CommScope in the 1st quarter valued at approximately $412,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CommScope by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 520,677 shares of the communications equipment provider's stock valued at $2,765,000 after acquiring an additional 39,064 shares during the period. Optimize Financial Inc acquired a new position in CommScope in the 1st quarter valued at approximately $1,710,000. Finally, Caxton Associates LLP acquired a new position in CommScope in the 1st quarter valued at approximately $455,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of CommScope in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research report on Tuesday, June 24th. Morgan Stanley upgraded 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 Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Raymond James Financial upgraded shares of 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $14.75.

CommScope Price Performance

Shares of NASDAQ:COMM traded up $0.34 during mid-day trading on Monday, hitting $16.65. The company had a trading volume of 5,701,881 shares, compared to its average volume of 5,495,190. The firm has a fifty day moving average price of $12.74 and a 200 day moving average price of $7.97. The company 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 Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.83.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The company 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 quarter in the previous year, the business posted $0.34 EPS. Research analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

CommScope Company 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.