Millennium Management LLC Has $12.04 Million Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Millennium Management LLC lowered its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,311,652 shares of the communications equipment provider's stock after selling 1,592,845 shares during the period. Millennium Management LLC owned approximately 1.07% of CommScope worth $12,044,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COMM. Aster Capital Management DIFC Ltd purchased a new stake in shares of CommScope during the fourth quarter worth $27,000. Sterling Capital Management LLC raised its holdings in shares of 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after acquiring an additional 4,026 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of CommScope during the fourth quarter worth $56,000. Finally, Ballentine Partners LLC purchased a new stake in shares of CommScope during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on COMM shares. Wall Street Zen lowered CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $7.00 price objective on shares of CommScope in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $4.75.

CommScope Trading Up 0.1%

NASDAQ COMM traded up $0.01 during trading on Thursday, hitting $6.15. 1,112,550 shares of the company traded hands, compared to its average volume of 5,440,654. CommScope Holding Company, Inc. has a 12 month low of $1.05 and a 12 month high of $7.19. The business has a fifty day simple moving average of $4.64 and a 200 day simple moving average of $5.03. The company has a market capitalization of $1.33 billion, a P/E ratio of -1.39, a PEG ratio of 0.41 and a beta of 2.06.

CommScope (NASDAQ:COMM - Get Free Report) last posted its earnings results 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 return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company earned ($0.08) earnings per share. The business's revenue was up 23.5% compared to the same quarter last year. Equities research analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal 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.