CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 63.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,984 shares of the communications equipment provider’s stock after selling 118,814 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in CommScope were worth $415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of CommScope in the third quarter valued at approximately $31,000. Belvedere Trading LLC acquired a new position in shares of CommScope in 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. acquired a new stake in shares of CommScope in the third quarter valued at $76,000. Finally, Traynor Capital Management Inc. purchased a new position in CommScope in the third quarter valued at $98,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

CommScope Stock Up 1.9 %

COMM stock opened at $4.86 on Tuesday. The business has a 50 day moving average price of $5.67 and a 200 day moving average price of $3.65. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -1.10 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.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data 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 firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS 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.