Versor Investments LP Boosts Stock Position in CommScope Holding Company, Inc. $COMM

Key Points

• Versor Investments LP significantly increased its stake in CommScope by 531.9% during the first quarter, bringing the total number of shares owned to 104,900, valued at $557,000.
• CommScope's recent earnings report showed an EPS of $0.44, exceeding analyst expectations of $0.24, alongside a 31.7% increase in revenue year-over-year.
• Analyst ratings have become more favorable, with upgrades from firms like Bank of America, which raised its price target from $4.00 to $20.00, reflecting growing confidence in the company's stock performance.

Versor Investments LP raised its stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 531.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 104,900 shares of the communications equipment provider's stock after purchasing an additional 88,300 shares during the quarter. Versor Investments LP's holdings in CommScope were worth $557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in CommScope in the first quarter valued at approximately $143,000. KBC Group NV bought a new stake in CommScope in the first quarter valued at approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CommScope by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock valued at $632,000 after purchasing an additional 5,909 shares during the last quarter. Bank of New York Mellon Corp lifted its position in CommScope by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock valued at $3,852,000 after purchasing an additional 41,286 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of CommScope by 986.1% during the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock valued at $1,066,000 after acquiring an additional 185,716 shares in the last quarter. Institutional investors own 88.04% of the company's stock.

CommScope Stock Up 1.9%

Shares of CommScope stock traded up $0.29 during trading hours on Monday, reaching $15.90. 8,762,053 shares of the stock traded hands, compared to its average volume of 11,299,278. The company has a 50 day moving average price of $10.12 and a 200 day moving average price of $6.83. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 0.55 and a beta of 2.38. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $16.21.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The business's quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. Sell-side analysts anticipate that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup upgraded CommScope to an "outperform" rating in a report on Monday, August 4th. Bank of America upgraded CommScope from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $4.00 to $20.00 in a report on Thursday, August 7th. Northland Capmk upgraded CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $4.00 to $17.00 in a research note on Tuesday, August 5th. Finally, Northland Securities set a $20.00 price objective on CommScope in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.