Bayforest Capital Ltd Acquires New Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Bayforest Capital Ltd purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,576 shares of the communications equipment provider’s stock, valued at approximately $412,000.

Several other large investors also recently made changes to their positions in COMM. Vanguard Group Inc. lifted its position in 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 purchasing an additional 694,363 shares during the last quarter. Deutsche Bank AG lifted its position 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 purchasing an additional 5,996,931 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 purchasing an additional 14,576 shares during the last quarter. Renaissance Technologies LLC lifted its position in 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 purchasing an additional 421,000 shares during the last quarter. Finally, LMR Partners LLP bought a new stake in CommScope in the 4th quarter valued at about $14,328,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Stock Down 2.6%

NASDAQ COMM opened at $8.12 on Thursday. The stock has a market capitalization of $1.76 billion, a PE ratio of 2.97, a price-to-earnings-growth ratio of 0.24 and a beta of 2.38. The company has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $5.66. CommScope Holding Company, Inc. has a 12-month low of $1.93 and a 12-month high of $8.68.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, equities analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on COMM shares. Wall Street Zen downgraded shares of CommScope from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CommScope from $6.00 to $7.50 and gave the stock a “hold” rating in a research report on Tuesday, June 24th. Finally, Wolfe Research started coverage on shares of CommScope in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, CommScope currently has a consensus rating of “Hold” and a consensus target price of $4.88.

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.