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

CommScope Holding Company, Inc. (NASDAQ:COMMGet Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,540,000 shares, an increase of 10.5% from the December 15th total of 8,630,000 shares. Based on an average trading volume of 4,260,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Investors Weigh In On CommScope

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of CommScope by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock worth $1,469,000 after buying an additional 87,530 shares in the last quarter. Rhumbline Advisers grew its holdings in CommScope by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock worth $427,000 after acquiring an additional 65,605 shares in the last quarter. XTX Topco Ltd increased its position in shares of CommScope by 263.1% in the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock worth $244,000 after purchasing an additional 143,654 shares during the last quarter. P Schoenfeld Asset Management LP raised its stake in shares of CommScope by 233.3% in the 2nd quarter. P Schoenfeld Asset Management LP now owns 1,000,000 shares of the communications equipment provider’s stock valued at $1,230,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of CommScope by 268.0% during the second quarter. Marshall Wace LLP now owns 661,777 shares of the communications equipment provider’s stock worth $814,000 after purchasing an additional 481,947 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. 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 research report on Tuesday, December 17th. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of 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. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, CommScope currently has a consensus rating of “Hold” and an average price target of $3.00.

Read Our Latest Stock Analysis on COMM

CommScope Stock Down 0.7 %

Shares of COMM traded down $0.04 during mid-day trading on Friday, reaching $5.36. 2,676,848 shares of the stock traded hands, compared to its average volume of 3,716,963. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -1.21, a P/E/G ratio of 0.57 and a beta of 1.92. The stock has a fifty day simple moving average of $5.17 and a 200 day simple moving average of $4.63. CommScope has a 12-month low of $0.86 and a 12-month high of $7.19.

CommScope (NASDAQ:COMMGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm 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 business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. On average, equities research analysts expect that CommScope will post -0.85 earnings per share for the current fiscal year.

About CommScope

(Get Free Report)

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.

Further Reading

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