Jacobs Levy Equity Management Inc. Sells 761,449 Shares of CommScope Holding Company, Inc. $COMM

Jacobs Levy Equity Management Inc. cut its position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 28.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,943,671 shares of the communications equipment provider's stock after selling 761,449 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.90% of CommScope worth $10,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG lifted its stake in CommScope by 8.2% in the 1st quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider's stock worth $53,369,000 after purchasing an additional 761,605 shares in the last quarter. Apollo Management Holdings L.P. bought a new position in shares of CommScope during the 1st quarter valued at $32,806,000. LMR Partners LLP bought a new position in shares of CommScope during the 4th quarter valued at $14,328,000. Nuveen LLC bought a new position in shares of CommScope during the 1st quarter valued at $13,507,000. Finally, Hudson Bay Capital Management LP grew its holdings in shares of CommScope by 150.1% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider's stock valued at $13,028,000 after purchasing an additional 1,500,558 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COMM. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $4.00 to $17.00 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. Northland Securities set a $20.00 price target on shares of CommScope in a research report on Tuesday, August 5th. Wolfe Research began coverage on shares of CommScope in a research report on Monday, July 7th. They set a "peer perform" rating for the company. Finally, Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. One research 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Stock Down 1.6%

Shares of NASDAQ:COMM traded down $0.27 on Friday, hitting $16.31. The company had a trading volume of 4,297,799 shares, compared to its average volume of 5,818,321. CommScope Holding Company, Inc. has a 1 year low of $2.94 and a 1 year high of $16.83. The firm's 50-day simple moving average is $12.57 and its two-hundred day simple moving average is $7.89. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 6.13, a P/E/G ratio of 0.57 and a beta of 2.47.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. CommScope's quarterly revenue was up 31.7% on a year-over-year basis. Equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current 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.