Hudson Bay Capital Management LP Acquires 1,500,558 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Hudson Bay Capital Management LP lifted its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 150.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,500,558 shares of the communications equipment provider's stock after acquiring an additional 1,500,558 shares during the quarter. Hudson Bay Capital Management LP owned approximately 1.16% of CommScope worth $13,028,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of CommScope in the fourth quarter valued at $27,000. Sterling Capital Management LLC boosted its holdings in shares of CommScope by 826.0% during the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock worth $35,000 after buying an additional 6,030 shares during the period. Tower Research Capital LLC TRC grew its stake in CommScope by 67.6% in 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 buying an additional 4,026 shares during the last quarter. Sciencast Management LP bought a new position in CommScope in the 4th quarter valued at about $56,000. Finally, Ballentine Partners LLC acquired a new stake in CommScope during the fourth quarter worth approximately $58,000. 88.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on COMM. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. StockNews.com lowered CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, CommScope currently has a consensus rating of "Hold" and an average target price of $4.75.

CommScope Stock Performance

Shares of NASDAQ COMM traded down $0.08 during midday trading on Thursday, reaching $5.71. The company's stock had a trading volume of 4,636,171 shares, compared to its average volume of 5,009,240. The company has a market cap of $1.24 billion, a P/E ratio of -1.29, a P/E/G ratio of 0.41 and a beta of 2.06. The business's 50 day moving average price is $4.50 and its two-hundred day moving average price is $5.07. CommScope Holding Company, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $7.19.

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