Two Sigma Advisers LP Sells 447,000 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Two Sigma Advisers LP lessened its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,856,800 shares of the communications equipment provider's stock after selling 447,000 shares during the quarter. Two Sigma Advisers LP owned about 1.79% of CommScope worth $20,094,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COMM. Ballentine Partners LLC acquired a new stake in shares of CommScope during the 4th quarter worth about $58,000. SG Americas Securities LLC raised its stake in CommScope by 130.6% in the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider's stock worth $238,000 after purchasing an additional 25,855 shares in the last quarter. Inspire Investing LLC raised its stake in CommScope by 15.0% in the 4th quarter. Inspire Investing LLC now owns 77,276 shares of the communications equipment provider's stock worth $403,000 after purchasing an additional 10,089 shares in the last quarter. AA Financial Advisors LLC raised its stake in CommScope by 5.8% in the 4th quarter. AA Financial Advisors LLC now owns 543,660 shares of the communications equipment provider's stock worth $2,832,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in CommScope by 7.0% in the 4th quarter. Rhumbline Advisers now owns 361,637 shares of the communications equipment provider's stock worth $1,884,000 after purchasing an additional 23,813 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Price Performance

CommScope stock traded up $0.48 during midday trading on Tuesday, hitting $6.18. The company's stock had a trading volume of 3,504,718 shares, compared to its average volume of 5,108,054. CommScope Holding Company, Inc. has a 1-year low of $1.05 and a 1-year high of $7.19. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -1.40, a PEG ratio of 0.41 and a beta of 2.06. The company has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $5.01.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, beating 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 firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned ($0.08) EPS. The business's quarterly revenue was up 23.5% compared to the same quarter last year. Sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.75.

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.