Saba Capital Management L.P. Purchases 95,000 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Saba Capital Management L.P. raised its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 570,418 shares of the communications equipment provider's stock after purchasing an additional 95,000 shares during the period. Saba Capital Management L.P. owned 0.26% of CommScope worth $2,972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COMM. Deutsche Bank AG lifted its holdings in shares of CommScope by 182.2% during the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock worth $48,396,000 after buying an additional 5,996,931 shares during the last quarter. LMR Partners LLP bought a new position in CommScope during the fourth quarter worth $14,328,000. Hudson Bay Capital Management LP raised its stake in CommScope by 150.1% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider's stock valued at $13,028,000 after purchasing an additional 1,500,558 shares during the last quarter. Sculptor Capital LP boosted its holdings in CommScope by 218.7% in the 4th quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider's stock valued at $8,352,000 after purchasing an additional 1,100,000 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in CommScope by 2,124.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 922,803 shares of the communications equipment provider's stock worth $4,808,000 after purchasing an additional 881,322 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Stock Down 0.3%

COMM traded down $0.02 during trading on Thursday, hitting $5.54. The company's stock had a trading volume of 1,987,555 shares, compared to its average volume of 5,025,078. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -1.25, a price-to-earnings-growth ratio of 0.41 and a beta of 2.06. The firm's 50 day moving average price is $4.60 and its two-hundred day moving average price is $5.03. CommScope Holding Company, Inc. has a 12 month low of $1.05 and a 12 month high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last announced its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. On average, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.75.

CommScope Company Profile

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.