Inspire Investing LLC Sells 129,527 Shares of CommScope Holding Company, Inc. $COMM

Key Points

• Inspire Investing LLC significantly reduced its stake in CommScope Holding Company, Inc. by 62.9%, selling 129,527 shares and retaining 76,260 shares valued at $631,000.
• The company's recent earnings report showed an EPS of $0.44, exceeding expectations, with revenue up 31.7% year-over-year, totaling $1.39 billion.
• Analysts have mixed ratings on COMM, with one upgrade to a "strong-buy," while the stock has a consensus rating of "Moderate Buy" and a price target of $14.75.

Inspire Investing LLC trimmed its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 62.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,260 shares of the communications equipment provider's stock after selling 129,527 shares during the quarter. Inspire Investing LLC's holdings in CommScope were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake 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 acquiring an additional 14,066 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in CommScope in the 1st quarter worth approximately $143,000. Advisor Resource Council acquired a new position in CommScope during the 1st quarter worth $118,000. Cavalier Investments LLC bought a new position in CommScope in the 1st quarter valued at $1,057,000. Finally, KBC Group NV bought a new stake in shares of CommScope during the first quarter worth $65,000. Institutional investors own 88.04% of the company's stock.

CommScope Trading Down 3.1%

Shares of COMM opened at $14.95 on Monday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 0.51 and a beta of 2.42. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $17.13. The firm has a fifty day simple moving average of $15.74 and a 200 day simple moving average of $9.34.

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

Analysts Set New Price Targets

COMM has been the subject of several recent research reports. Wall Street Zen raised CommScope from a "buy" rating to a "strong-buy" rating in a report on Saturday. Zacks Research lowered CommScope from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings reissued a "hold (c)" rating on shares of CommScope in a research note on Wednesday, October 8th. Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.