CommScope Holding Company, Inc. $COMM Shares Bought by Inspire Investing LLC

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 increased its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 166.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,787 shares of the communications equipment provider's stock after acquiring an additional 128,511 shares during the quarter. Inspire Investing LLC owned approximately 0.10% of CommScope worth $1,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of CommScope during the first quarter valued at approximately $143,000. KBC Group NV bought a new position in CommScope during the 1st quarter worth $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CommScope by 5.1% in the fourth 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 period. Bank of New York Mellon Corp lifted its stake in CommScope by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock valued at $3,852,000 after buying an additional 41,286 shares during the last quarter. Finally, Range Financial Group LLC acquired a new position in shares of CommScope during the first quarter valued at $1,018,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on COMM shares. Northland Securities set a $20.00 price objective on shares of CommScope in a research report on Tuesday, August 5th. Citigroup upgraded CommScope to an "outperform" rating in a research report on Monday, August 4th. Morgan Stanley upgraded CommScope from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Bank of America raised CommScope from an "underperform" rating to a "buy" rating and lifted their target price for the company from $4.00 to $20.00 in a research note on Thursday, August 7th. Finally, Raymond James Financial raised CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Tuesday, August 5th. One research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $14.75.

CommScope Stock Performance

Shares of COMM stock traded up $0.16 during mid-day trading on Thursday, hitting $16.46. 1,807,044 shares of the stock traded hands, compared to its average volume of 6,023,690. CommScope Holding Company, Inc. has a twelve month low of $2.94 and a twelve month high of $16.83. The company's 50-day simple moving average is $13.08 and its 200-day simple moving average is $8.09. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.56 and a beta of 2.47.

CommScope (NASDAQ:COMM - Get Free Report) last announced 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. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company's revenue was up 31.7% on a year-over-year basis. Analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current 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.