Mill Creek Capital Advisors LLC Makes New $416,000 Investment in CommScope Holding Company, Inc. (NASDAQ:COMM)

Mill Creek Capital Advisors LLC purchased a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 68,027 shares of the communications equipment provider’s stock, valued at approximately $416,000.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 25,212 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of CommScope by 15.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock valued at $248,000 after buying an additional 24,523 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of CommScope during the second quarter valued at about $144,000. BNP Paribas Financial Markets grew its holdings in shares of CommScope by 31.9% during the first quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock valued at $595,000 after buying an additional 109,753 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of CommScope by 263.1% during the second quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after buying an additional 143,654 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COMM. Northland Securities lifted 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Morgan Stanley raised 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, November 4th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Price Performance

COMM opened at $4.15 on Monday. The firm has a market capitalization of $895.90 million, a P/E ratio of -0.94, a PEG ratio of 0.18 and a beta of 2.09. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $7.19. The company’s 50-day moving average is $5.85 and its 200 day moving average is $3.35.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. On average, equities research analysts expect that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

CommScope 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.