Optimize Financial Inc Invests $1.71 Million in CommScope Holding Company, Inc. $COMM

Key Points

• Optimize Financial Inc has acquired a new position in CommScope Holding Company, investing approximately $1.71 million to purchase 321,961 shares, making it the 28th largest holding in Optimize's portfolio.
• Several hedge funds have significantly increased their stakes in CommScope, with Deutsche Bank AG growing its position by 182.2% to own over 9 million shares, indicating strong institutional interest in the company.
• CommScope's stock recently received multiple upgrades from analysts, with price targets ranging from $14.75 to $20.00, reflecting a consensus rating of "Moderate Buy."

Optimize Financial Inc bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 321,961 shares of the communications equipment provider's stock, valued at approximately $1,710,000. CommScope comprises about 0.6% of Optimize Financial Inc's portfolio, making the stock its 28th largest holding. Optimize Financial Inc owned 0.15% of CommScope at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COMM. Raymond James Financial Inc. purchased a new position in shares of CommScope during the fourth quarter worth approximately $138,000. Tower Research Capital LLC TRC grew its position 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 during the last quarter. Northern Trust Corp grew its position in CommScope by 13.7% in the 4th quarter. Northern Trust Corp now owns 2,087,160 shares of the communications equipment provider's stock valued at $10,874,000 after buying an additional 250,761 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in CommScope by 85.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 25,107 shares of the communications equipment provider's stock valued at $131,000 after buying an additional 11,577 shares during the last quarter. Finally, Deutsche Bank AG grew its position in CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after buying an additional 5,996,931 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COMM. Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $4.00 to $17.00 in a research report on Tuesday, August 5th. Citigroup upgraded shares of CommScope to an "outperform" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research report on Tuesday, June 24th. 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. Finally, Northland Securities set a $20.00 price objective on shares of CommScope in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, CommScope presently has an average rating of "Moderate Buy" and an average price target of $14.75.

CommScope Stock Performance

CommScope stock opened at $16.19 on Tuesday. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.61. The business has a fifty day moving average of $11.94 and a two-hundred day moving average of $7.60. The company has a market cap of $3.59 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 0.55 and a beta of 2.46.

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 analysts' consensus estimates of $0.24 by $0.20. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company earned $0.34 earnings per share. CommScope's quarterly revenue was up 31.7% compared to the same quarter last year. Sell-side analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current 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.

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