Sage Rhino Capital LLC Acquires Shares of 28,176 CommScope Holding Company, Inc. $COMM

Key Points

• Sage Rhino Capital LLC has acquired 28,176 shares of CommScope Holding Company, Inc., valued at approximately $233,000, during the second quarter.
• Institutional ownership of CommScope is notably high, with hedge funds and institutional investors owning 88.04% of the stock.
• CommScope recently reported earnings of $0.44 EPS for the quarter, exceeding analysts' expectations of $0.24, and showing a 31.7% year-over-year revenue increase.

Sage Rhino Capital LLC bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,176 shares of the communications equipment provider's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also made changes to their positions in COMM. Deutsche Bank AG grew its position in CommScope by 8.2% during the 1st quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider's stock worth $53,369,000 after purchasing an additional 761,605 shares during the last quarter. Goldman Sachs Group Inc. increased its position in CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider's stock valued at $50,437,000 after acquiring an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. purchased a new stake in CommScope during the 1st quarter valued at approximately $32,806,000. Nuveen LLC acquired a new stake in CommScope during the 1st quarter worth approximately $13,507,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of CommScope by 55.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,579,078 shares of the communications equipment provider's stock valued at $13,075,000 after purchasing an additional 565,697 shares during the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

NASDAQ COMM opened at $15.40 on Friday. The company has a market cap of $3.41 billion, a P/E ratio of 5.79, a P/E/G ratio of 0.53 and a beta of 2.47. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $17.13. The company has a 50-day moving average of $14.27 and a 200-day moving average of $8.62.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the company earned $0.34 earnings per share. The company's quarterly revenue was up 31.7% on a year-over-year basis. As a group, equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

COMM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CommScope from $6.00 to $7.50 and gave the stock 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 for the company in a research report on Tuesday, August 5th. Northland Capmk upgraded CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Wolfe Research started coverage on CommScope in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Finally, Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, CommScope currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

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.

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