CommScope (NASDAQ:COMM) Shares Up 4.5% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price shot up 4.5% during trading on Thursday . The stock traded as high as $4.70 and last traded at $4.67. 171,056 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,173,067 shares. The stock had previously closed at $4.47.

Analyst Upgrades and Downgrades

COMM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Northland Securities increased their price objective on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Finally, Morgan Stanley increased their price objective on CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Price Performance

The company has a market capitalization of $982.25 million, a P/E ratio of -1.01, a PEG ratio of 0.21 and a beta of 2.09. The company has a 50 day moving average of $5.84 and a 200-day moving average of $3.30.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Research analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Trading of CommScope

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC lifted its holdings in CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 18,722 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of CommScope during the third quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC increased its position in shares of CommScope by 5,083.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 25,212 shares in the last quarter. Belvedere Trading LLC bought a new stake in shares of CommScope during the third quarter valued at approximately $68,000. Finally, Creative Planning bought a new stake in shares of CommScope during the third quarter valued at approximately $73,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.