CommScope (NASDAQ:COMM) Shares Gap Down – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) gapped down prior to trading on Tuesday . The stock had previously closed at $5.80, but opened at $5.50. CommScope shares last traded at $5.47, with a volume of 623,697 shares traded.

Analyst Ratings Changes

Separately, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research note on Tuesday. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.50.

CommScope Trading Down 5.9 %

The firm has a market capitalization of $1.18 billion, a P/E ratio of -1.31 and a beta of 1.95. The company has a 50 day simple moving average of $5.54 and a two-hundred day simple moving average of $3.95.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. On average, sell-side analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

Large investors have recently made changes to their positions in the company. Monarch Alternative Capital LP bought a new position in CommScope during the third quarter valued at approximately $16,623,000. Assenagon Asset Management S.A. bought a new position in shares of CommScope during the 3rd quarter valued at approximately $11,023,000. Bank of Montreal Can purchased a new position in shares of CommScope in the third quarter valued at $7,023,000. Two Sigma Advisers LP increased its position in CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after purchasing an additional 975,200 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in CommScope by 319.3% during the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after purchasing an additional 953,171 shares in the last quarter. 88.04% of the stock is owned by 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.