Sona Asset Management US LLC Increases Stock Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Sona Asset Management US LLC raised its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 94.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,364,443 shares of the communications equipment provider's stock after buying an additional 664,443 shares during the quarter. Sona Asset Management US LLC owned about 0.63% of CommScope worth $7,109,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of CommScope by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider's stock valued at $5,500,000 after buying an additional 542,794 shares during the last quarter. SG Americas Securities LLC raised its position in shares of CommScope by 130.6% in the fourth 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 stake in shares of CommScope in the fourth quarter valued at about $2,212,000. Franklin Resources Inc. acquired a new stake in shares of CommScope in the third quarter valued at about $755,000. Finally, Arizona State Retirement System acquired a new stake in shares of CommScope in the fourth quarter valued at about $326,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

CommScope Price Performance

Shares of COMM traded down $0.04 during mid-day trading on Monday, reaching $5.84. The stock had a trading volume of 4,495,088 shares, compared to its average volume of 5,023,792. CommScope Holding Company, Inc. has a 52-week low of $1.05 and a 52-week high of $7.19. The business's fifty day moving average is $4.55 and its 200 day moving average is $5.03. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -1.32, a P/E/G ratio of 0.41 and a beta of 2.06.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope's quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COMM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated 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 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 given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, CommScope presently has an average rating of "Hold" and a consensus price target of $4.75.

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.