Man Group plc Sells 47,833 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Man Group plc lessened its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,092 shares of the communications equipment provider's stock after selling 47,833 shares during the quarter. Man Group plc's holdings in CommScope were worth $360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of CommScope during the fourth quarter worth $27,000. Sterling Capital Management LLC grew its stake in shares of CommScope by 826.0% in the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock worth $35,000 after purchasing an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of CommScope by 67.6% in the fourth 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 during the last quarter. Sciencast Management LP bought a new stake in shares of CommScope in the fourth quarter worth $56,000. Finally, Ballentine Partners LLC bought a new stake in shares of CommScope in the fourth quarter worth $58,000. Institutional investors own 88.04% of the company's stock.

CommScope Stock Down 3.3%

COMM traded down $0.21 during trading on Friday, reaching $6.07. 5,767,351 shares of the stock traded hands, compared to its average volume of 5,137,747. The stock has a market capitalization of $1.31 billion, a PE ratio of -1.37, a P/E/G ratio of 0.41 and a beta of 2.06. The stock's 50-day moving average is $4.65 and its 200 day moving average is $5.05. CommScope Holding Company, Inc. has a 12 month low of $1.05 and a 12 month high of $7.19.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COMM. Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, CommScope currently has a consensus rating of "Hold" and an average target price of $4.75.

CommScope 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.