CommScope Holding Company, Inc. (NASDAQ:COMM) Short Interest Update

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 10,530,000 shares, a growth 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 trading volume, of 4,590,000 shares, the short-interest ratio is presently 2.3 days.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CommScope by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock valued at $118,542,000 after buying an additional 694,363 shares in the last quarter. Deutsche Bank AG raised its position in shares of 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 raised its position in shares of CommScope by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock valued at $26,715,000 after buying an additional 14,576 shares in the last quarter. State Street Corp raised its position in shares of CommScope by 9.2% in the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after buying an additional 387,466 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of CommScope by 10.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock valued at $23,035,000 after buying an additional 421,000 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

CommScope Stock Down 0.7 %

NASDAQ COMM opened at $5.49 on Friday. The company has a market capitalization of $1.19 billion, a P/E ratio of -1.24, a P/E/G ratio of 0.41 and a beta of 1.89. CommScope has a 12-month low of $0.86 and a 12-month high of $7.19. The firm has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $5.42.

Wall Street Analyst Weigh In

Several analysts recently commented on COMM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 target price on shares of CommScope in a 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. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a report on Tuesday, December 17th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Tuesday, January 14th. Finally, StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, CommScope has an average rating of “Hold” and an average target price 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.