Y Intercept Hong Kong Ltd Invests $252,000 in CommScope Holding Company, Inc. (NASDAQ:COMM)

Key Points

• Y Intercept Hong Kong Ltd invested $252,000 in CommScope Holding Company, purchasing 47,465 shares during the first quarter.
• Institutional ownership of CommScope is high, with 88.04% of the company's stock held by institutional investors, including significant increases from Allianz Asset Management and Hussman Strategic Advisors.
• CommScope's stock, which has seen recent fluctuations, currently has a consensus rating of "Hold" and an average price target of $4.88 from analysts.

Y Intercept Hong Kong Ltd acquired a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 47,465 shares of the communications equipment provider's stock, valued at approximately $252,000.

Several other hedge funds have also made changes to their positions in COMM. Aster Capital Management DIFC Ltd bought a new stake in shares of CommScope in the fourth quarter valued at about $27,000. Sterling Capital Management LLC increased its position in CommScope by 826.0% during the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 6,030 shares during the period. Tower Research Capital LLC TRC increased its position in CommScope by 67.6% during 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 purchasing an additional 4,026 shares during the period. Covestor Ltd bought a new stake in shares of CommScope in the 4th quarter valued at about $62,000. Finally, KBC Group NV purchased a new position in CommScope during the first quarter valued at approximately $65,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Wolfe Research initiated coverage on shares of CommScope in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, CommScope currently has an average rating of "Hold" and a consensus target price of $4.88.

CommScope Trading Down 5.0%

COMM traded down $0.41 during trading on Friday, hitting $7.79. The company's stock had a trading volume of 7,326,306 shares, compared to its average volume of 5,376,922. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 2.85, a P/E/G ratio of 0.24 and a beta of 2.38. The business's fifty day simple moving average is $7.12 and its 200 day simple moving average is $5.68. CommScope Holding Company, Inc. has a twelve month low of $1.93 and a twelve month high of $8.68.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the business posted ($0.08) earnings per share. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities research analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

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.