FPR Partners LLC Sells 647,814 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

FPR Partners LLC lessened its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 4.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,707,593 shares of the communications equipment provider's stock after selling 647,814 shares during the period. CommScope accounts for 7.3% of FPR Partners LLC's portfolio, making the stock its 7th largest position. FPR Partners LLC owned 5.89% of CommScope worth $66,207,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider's stock worth $5,500,000 after acquiring an additional 542,794 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 valued at $238,000 after buying an additional 25,855 shares during the last quarter. Swiss National Bank acquired a new position in shares of CommScope in the fourth quarter worth approximately $2,212,000. Franklin Resources Inc. acquired a new stake in shares of CommScope during the third quarter worth $755,000. Finally, Arizona State Retirement System bought a new position in shares of CommScope in the 4th quarter worth about $326,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COMM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $7.00 price target on shares of CommScope in a research note on Thursday, February 27th. StockNews.com raised CommScope from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. upgraded CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.75.

CommScope Stock Performance

COMM traded down $0.06 during trading on Friday, reaching $4.82. 2,481,246 shares of the company traded hands, compared to its average volume of 4,966,232. The firm has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $5.07. CommScope Holding Company, Inc. has a 12-month low of $1.00 and a 12-month high of $7.19. The company has a market cap of $1.04 billion, a P/E ratio of -1.09, a PEG ratio of 0.41 and a beta of 2.06.

CommScope (NASDAQ:COMM - Get Free Report) last issued its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm's quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS. As a group, sell-side analysts expect 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.