Range Financial Group LLC purchased a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 191,653 shares of the communications equipment provider's stock, valued at approximately $1,018,000. Range Financial Group LLC owned approximately 0.09% of CommScope as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of CommScope in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC lifted its position in shares of CommScope by 826.0% in the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after acquiring an additional 6,030 shares in the last quarter. Tower Research Capital LLC TRC lifted its position 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 valued at $52,000 after acquiring an additional 4,026 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of CommScope in the 4th quarter valued at approximately $56,000. Finally, Jones Financial Companies Lllp acquired a new position in CommScope in the 4th quarter valued at approximately $60,000. Hedge funds and other institutional investors own 88.04% of the company's stock.
CommScope Stock Up 3.9%
Shares of COMM opened at $6.06 on Monday. The company's fifty day moving average is $4.70 and its 200-day moving average is $5.11. CommScope Holding Company, Inc. has a 12 month low of $1.05 and a 12 month high of $7.19. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -1.37, a price-to-earnings-growth ratio of 0.41 and a beta of 2.29.
CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, topping 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 company 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 posted ($0.08) EPS. CommScope's quarterly revenue was up 23.5% on a year-over-year basis. As a group, research analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
COMM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $4.75.
Get Our Latest Stock Analysis on COMM
About CommScope
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding COMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report).
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