CommScope (NASDAQ:COMM) Stock Crosses Below 200 Day Moving Average of $1.92

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.92 and traded as low as $1.00. CommScope shares last traded at $1.06, with a volume of 1,792,966 shares trading hands.

Analyst Ratings Changes

COMM has been the subject of several research analyst reports. Northland Securities reissued a “market perform” rating on shares of CommScope in a report on Friday, March 1st. Bank of America lowered their price objective on CommScope from $2.00 to $1.00 and set an “underperform” rating for the company in a report on Wednesday, March 13th. JPMorgan Chase & Co. restated an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Finally, StockNews.com downgraded CommScope from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.02.

CommScope Stock Up 6.2 %

The stock has a 50 day simple moving average of $1.37 and a 200 day simple moving average of $1.92. The company has a market capitalization of $224.98 million, a price-to-earnings ratio of -0.15 and a beta of 1.98.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.53 billion. CommScope had a negative return on equity of 7.18% and a negative net margin of 21.64%. As a group, analysts forecast that CommScope Holding Company, Inc. will post -0.29 EPS for the current year.

Insider Transactions at CommScope

In other CommScope news, Director L William Krause acquired 57,300 shares of CommScope stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $1.59 per share, for a total transaction of $91,107.00. Following the completion of the transaction, the director now owns 227,873 shares in the company, valued at approximately $362,318.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On CommScope

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of CommScope by 8.0% during the third quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock worth $124,578,000 after buying an additional 2,745,209 shares during the period. Assenagon Asset Management S.A. lifted its position in CommScope by 14.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 970,716 shares of the communications equipment provider’s stock worth $2,737,000 after purchasing an additional 124,037 shares during the period. FMR LLC lifted its position in CommScope by 16.4% in the third quarter. FMR LLC now owns 1,100,425 shares of the communications equipment provider’s stock worth $3,697,000 after purchasing an additional 154,698 shares during the period. AQR Capital Management LLC lifted its position in CommScope by 35.9% in the third quarter. AQR Capital Management LLC now owns 1,699,394 shares of the communications equipment provider’s stock worth $5,481,000 after purchasing an additional 448,980 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in CommScope by 45.1% in the third quarter. Rafferty Asset Management LLC now owns 157,719 shares of the communications equipment provider’s stock worth $530,000 after purchasing an additional 49,009 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.