Jones Road Capital Management L.P. increased its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 61.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 607,000 shares of the communications equipment provider's stock after buying an additional 232,000 shares during the period. CommScope comprises approximately 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 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of COMM. Sterling Capital Management LLC boosted its holdings in shares of CommScope by 826.0% in the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after buying an additional 6,030 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after buying an additional 4,026 shares during the period. Caliber Wealth Management LLC KS acquired a new position in shares of CommScope in the 1st quarter valued at about $57,000. KBC Group NV acquired a new position in shares of CommScope in the 1st quarter valued at about $65,000. Finally, GAMMA Investing LLC boosted its holdings in shares of CommScope by 717.7% in the 1st 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 during the period. 88.04% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Citigroup upgraded shares of CommScope to an "outperform" rating in a research report on Monday, August 4th. Wolfe Research assumed coverage on shares of CommScope in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Bank of America upgraded shares of CommScope from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $4.00 to $20.00 in a research report on Thursday, August 7th. Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a research 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 objective on the stock in a research report on Tuesday, August 5th. One investment 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.75.
Check Out Our Latest Analysis on CommScope
CommScope Stock Up 1.4%
CommScope stock traded up $0.22 during trading hours on Friday, hitting $15.61. 5,266,396 shares of the company traded hands, compared to its average volume of 11,259,058. The firm has a market cap of $3.46 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.55 and a beta of 2.38. The firm's 50-day simple moving average is $9.92 and its two-hundred day simple moving average is $6.74. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $16.12.
CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. CommScope's quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, equities research analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.
CommScope Company Profile
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Free Report)
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.
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