CommScope (NASDAQ:COMM) Stock Price Down 6% – Should You Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price fell 6% during trading on Monday . The company traded as low as $6.34 and last traded at $6.38. 3,020,542 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 4,060,989 shares. The stock had previously closed at $6.79.

Analyst Upgrades and Downgrades

Several analysts have weighed in on COMM shares. Northland Securities boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Morgan Stanley increased their price target on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and five 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 Trading Down 5.4 %

The company’s fifty day simple moving average is $5.62 and its 200 day simple moving average is $3.06. The firm has a market capitalization of $1.39 billion, a P/E ratio of -0.83, a price-to-earnings-growth ratio of 0.30 and a beta of 2.09.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company earned $0.14 earnings per share. CommScope’s quarterly revenue was down 12.7% on a year-over-year basis. On average, analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of CommScope

Hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in shares of CommScope by 19.9% during the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in CommScope by 10.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock valued at $6,128,000 after buying an additional 461,264 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in CommScope during the third quarter valued at $11,023,000. Marathon Asset Management LP boosted its holdings in CommScope by 75.0% in the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after acquiring an additional 750,000 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of CommScope by 319.3% in the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after acquiring an additional 953,171 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.

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.