Lazard Asset Management LLC Reduces Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Lazard Asset Management LLC lessened its stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,881 shares of the communications equipment provider's stock after selling 66,656 shares during the quarter. Lazard Asset Management LLC owned approximately 0.18% of CommScope worth $2,010,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of CommScope by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider's stock valued at $118,542,000 after acquiring an additional 694,363 shares during the last quarter. Deutsche Bank AG increased its position in shares of CommScope by 182.2% during the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after acquiring an additional 5,996,931 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CommScope by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider's stock valued at $26,715,000 after acquiring an additional 14,576 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of CommScope by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider's stock valued at $23,035,000 after acquiring an additional 421,000 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of CommScope during the fourth quarter valued at approximately $14,328,000. Institutional investors own 88.04% of the company's stock.

CommScope Trading Down 4.5%

Shares of NASDAQ COMM traded down $0.26 during mid-day trading on Wednesday, hitting $5.55. The company had a trading volume of 5,172,214 shares, compared to its average volume of 5,029,001. CommScope Holding Company, Inc. has a 1 year low of $1.05 and a 1 year high of $7.19. The stock's 50-day moving average price is $4.59 and its 200-day moving average price is $5.03. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -1.26, a P/E/G ratio of 0.41 and a beta of 2.06.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company's revenue was up 23.5% compared to the same quarter last year. As a group, equities research analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Analysts Set New Price Targets

COMM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. StockNews.com downgraded CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, CommScope currently has an average rating of "Hold" and an average target price of $4.75.

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.