321,961 Shares in CommScope Holding Company, Inc. $COMM Acquired by Optimize Financial Inc

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 purchased a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 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 approximately 0.15% of CommScope as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COMM. Banque Transatlantique SA purchased a new position in shares of CommScope in the 1st quarter worth $34,000. Tower Research Capital LLC TRC grew its stake 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 worth $52,000 after buying an additional 4,026 shares in the last quarter. Caliber Wealth Management LLC KS purchased a new position in shares of CommScope during the 1st quarter worth about $57,000. KBC Group NV purchased a new position in shares of CommScope during the 1st quarter worth about $65,000. Finally, GAMMA Investing LLC boosted its stake in shares of CommScope by 717.7% during the 1st quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock worth $85,000 after purchasing an additional 14,066 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

Shares of NASDAQ:COMM traded down $0.27 during trading on Friday, reaching $16.31. 4,297,799 shares of the company were exchanged, compared to its average volume of 5,818,321. The firm has a market capitalization of $3.61 billion, a PE ratio of 6.13, a P/E/G ratio of 0.57 and a beta of 2.47. The business's fifty day simple moving average is $12.57 and its 200-day simple moving average is $7.89. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $16.83.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly 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. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The company's quarterly revenue was up 31.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Citigroup raised shares of CommScope to an "outperform" rating in a research note on Monday, August 4th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Tuesday, August 5th. Wolfe Research assumed coverage on shares of CommScope in a research note on Monday, July 7th. They set a "peer perform" rating for the company. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.75.

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.