Charles Schwab Investment Management Inc. Sells 1,284,227 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Charles Schwab Investment Management Inc. trimmed its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 28.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,273,875 shares of the communications equipment provider’s stock after selling 1,284,227 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CommScope were worth $17,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. National Bank of Canada FI raised its holdings in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the last quarter. Quarry LP grew its position in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 7,380 shares during the period. Ballentine Partners LLC bought a new stake in shares of CommScope during the fourth quarter worth approximately $58,000. Jones Financial Companies Lllp bought a new stake in shares of CommScope during the fourth quarter worth approximately $60,000. Finally, US Bancorp DE lifted its holdings in CommScope by 527.9% in the fourth quarter. US Bancorp DE now owns 16,067 shares of the communications equipment provider’s stock valued at $84,000 after buying an additional 13,508 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Price Performance

Shares of NASDAQ:COMM opened at $5.49 on Friday. The stock has a market capitalization of $1.19 billion, a PE ratio of -1.24, a price-to-earnings-growth ratio of 0.41 and a beta of 1.89. The company’s 50-day moving average price is $5.28 and its two-hundred day moving average price is $5.42. CommScope Holding Company, Inc. has a one year low of $0.86 and a one year high of $7.19.

Wall Street Analyst Weigh In

COMM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. Morgan Stanley lowered 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, December 17th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Tuesday, January 14th. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a research note 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CommScope currently has an average rating of “Hold” and a consensus price target of $4.75.

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.