Jones Road Capital Management L.P. Has $3.22 Million Holdings in CommScope Holding Company, Inc. $COMM

Key Points

• Jones Road Capital Management L.P. increased its stake in CommScope Holding Company by 61.9%, now owning 607,000 shares, valued at approximately $3.22 million.
• CommScope received several upgrades from analysts, including a move from "underperform" to "outperform" with a price target of $19.00 from Raymond James Financial.
• CommScope reported strong quarterly earnings, with $0.44 EPS and revenue of $1.39 billion, beating estimates and showing a 31.7% year-over-year revenue increase.

Jones Road Capital Management L.P. lifted its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 61.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 607,000 shares of the communications equipment provider's stock after buying an additional 232,000 shares during the quarter. CommScope comprises 2.0% of Jones Road Capital Management L.P.'s holdings, making the stock its 14th biggest position. Jones Road Capital Management L.P. owned 0.28% of CommScope worth $3,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sterling Capital Management LLC increased its position in CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock worth $35,000 after acquiring an additional 6,030 shares during the period. Tower Research Capital LLC TRC grew its position in shares of CommScope by 67.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after purchasing an additional 4,026 shares in the last quarter. Caliber Wealth Management LLC KS bought a new position in shares of CommScope during the first quarter worth approximately $57,000. KBC Group NV acquired a new stake in shares of CommScope in the first quarter valued at approximately $65,000. Finally, GAMMA Investing LLC raised its position 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 valued at $85,000 after buying an additional 14,066 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COMM has been the topic of a number of analyst reports. Raymond James Financial raised CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target on the stock in a research report on Tuesday, August 5th. Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price target on CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Citigroup upgraded shares of CommScope to an "outperform" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Price Performance

NASDAQ COMM traded up $0.2850 on Monday, reaching $15.8950. The company had a trading volume of 2,863,846 shares, compared to its average volume of 6,106,559. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 0.55 and a beta of 2.38. CommScope Holding Company, Inc. has a fifty-two week low of $2.94 and a fifty-two week high of $16.12. The business has a 50 day moving average of $9.92 and a two-hundred day moving average of $6.75.

CommScope (NASDAQ:COMM - Get Free Report) last announced its 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. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The business's quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. As a group, research analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

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.