Quantbot Technologies LP Grows Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Quantbot Technologies LP raised its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 47.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 239,098 shares of the communications equipment provider’s stock after purchasing an additional 76,755 shares during the quarter. Quantbot Technologies LP’s holdings in CommScope were worth $1,461,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of CommScope during the third quarter worth $31,000. Belvedere Trading LLC purchased a new stake in shares of CommScope during the third quarter worth $68,000. Creative Planning purchased a new stake in shares of CommScope during the third quarter worth $73,000. Hanseatic Management Services Inc. purchased a new stake in shares of CommScope during the third quarter worth $76,000. Finally, Traynor Capital Management Inc. purchased a new stake in shares of CommScope during the third quarter worth $98,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Price Performance

Shares of COMM stock opened at $4.77 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of -1.08 and a beta of 2.09. The company has a 50-day moving average of $5.70 and a two-hundred day moving average of $3.59. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $7.19.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Sell-side analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COMM. Morgan Stanley upped their price objective on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Northland Securities upped their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, CommScope presently has a consensus rating of “Hold” and an average price target of $2.50.

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.