Prudential Financial Inc. Sells 30,400 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Prudential Financial Inc. lessened its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,630 shares of the communications equipment provider’s stock after selling 30,400 shares during the period. Prudential Financial Inc.’s holdings in CommScope were worth $113,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COMM. National Bank of Canada FI grew its stake in shares of CommScope by 109.1% in the third 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. Sciencast Management LP bought a new stake in shares of CommScope in the 4th quarter worth approximately $56,000. Ballentine Partners LLC purchased a new position in shares of CommScope during the fourth quarter valued at approximately $58,000. Jones Financial Companies Lllp bought a new position in shares of CommScope during the fourth quarter valued at approximately $60,000. Finally, EPIQ Capital Group LLC bought a new stake in CommScope in the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COMM. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Tuesday, December 17th. JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 14th. StockNews.com raised CommScope from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.75.

CommScope Stock Down 2.3 %

Shares of COMM opened at $3.36 on Friday. The stock has a market cap of $727.64 million, a P/E ratio of -0.76, a P/E/G ratio of 0.41 and a beta of 1.98. The business’s 50 day moving average price is $5.05 and its 200-day moving average price is $5.35. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19.

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.