CommScope Holding Company, Inc. (NASDAQ:COMM) Sees Significant Increase in Short Interest

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 10,530,000 shares, an increase of 16.0% from the February 13th total of 9,080,000 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average daily volume of 4,590,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

A number of analysts have commented on COMM shares. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, CommScope has a consensus rating of “Hold” and an average price target of $4.75.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of CommScope by 1,219.1% in the fourth quarter. California State Teachers Retirement System now owns 201,759 shares of the communications equipment provider’s stock worth $1,051,000 after acquiring an additional 186,464 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in CommScope by 233.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 81,299 shares of the communications equipment provider’s stock valued at $424,000 after purchasing an additional 56,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in CommScope during the fourth quarter valued at approximately $2,509,000. Voloridge Investment Management LLC grew its position in CommScope by 38.7% during the fourth quarter. Voloridge Investment Management LLC now owns 1,873,147 shares of the communications equipment provider’s stock valued at $9,759,000 after purchasing an additional 522,941 shares in the last quarter. Finally, Saba Capital Management L.P. grew its position in CommScope by 20.0% during the fourth quarter. Saba Capital Management L.P. now owns 570,418 shares of the communications equipment provider’s stock valued at $2,972,000 after purchasing an additional 95,000 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Stock Up 5.4 %

Shares of CommScope stock traded up $0.29 during trading on Wednesday, hitting $5.54. The stock had a trading volume of 5,603,495 shares, compared to its average volume of 4,416,059. The stock has a 50 day simple moving average of $5.27 and a 200 day simple moving average of $5.42. The company has a market capitalization of $1.20 billion, a PE ratio of -1.25, a P/E/G ratio of 0.41 and a beta of 1.89. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19.

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.