CommScope (NASDAQ:COMM) Stock Price Down 6.1% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price traded down 6.1% during mid-day trading on Wednesday . The company traded as low as $5.81 and last traded at $5.78. 1,853,067 shares were traded during mid-day trading, a decline of 59% from the average session volume of 4,563,761 shares. The stock had previously closed at $6.15.

Analyst Upgrades and Downgrades

COMM has been the subject of several recent analyst reports. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research note on Tuesday, December 17th. StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, CommScope presently has a consensus rating of “Hold” and an average target price of $4.00.

CommScope Trading Down 3.2 %

The firm’s fifty day moving average price is $5.31 and its 200-day moving average price is $5.36. The company has a market cap of $1.29 billion, a P/E ratio of -1.35, a P/E/G ratio of 0.41 and a beta of 1.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of COMM. Vanguard Group Inc. lifted its stake in CommScope by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock worth $118,542,000 after purchasing an additional 694,363 shares during the period. Deutsche Bank AG boosted its stake in CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock valued at $48,396,000 after buying an additional 5,996,931 shares in the last quarter. Geode Capital Management LLC grew its position in CommScope by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock valued at $26,715,000 after acquiring an additional 14,576 shares during the period. State Street Corp grew its position in CommScope by 9.2% in the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after acquiring an additional 387,466 shares during the period. Finally, Renaissance Technologies LLC raised its stake in CommScope by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock worth $23,035,000 after acquiring an additional 421,000 shares in the last quarter. 88.04% of the stock is owned by institutional investors.

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.