CommScope (NASDAQ:COMM) Stock Price Down 6% – Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares were down 6% on Friday . The stock traded as low as $5.42 and last traded at $5.48. Approximately 973,298 shares traded hands during trading, a decline of 77% from the average daily volume of 4,142,654 shares. The stock had previously closed at $5.83.

Analyst Ratings Changes

Separately, Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.50.

CommScope Stock Down 6.9 %

The company has a market capitalization of $1.17 billion, a P/E ratio of -1.23 and a beta of 1.95. The company’s 50-day moving average is $5.51 and its two-hundred day moving average is $4.14.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of COMM. Monarch Alternative Capital LP bought a new position in shares of CommScope during the third quarter valued at approximately $16,623,000. Assenagon Asset Management S.A. bought a new stake in shares of CommScope during the 3rd quarter valued at about $11,023,000. Bank of Montreal Can bought a new position in CommScope in the third quarter worth about $7,023,000. Two Sigma Advisers LP boosted its position in CommScope by 29.3% during the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after acquiring an additional 975,200 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of CommScope by 319.3% during the 2nd 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 period. Institutional investors own 88.04% of the company’s stock.

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.