CommScope (NASDAQ:COMM) Trading 13.7% Higher – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM) shares were up 13.7% on Monday . The stock traded as high as $5.33 and last traded at $5.32. Approximately 3,338,601 shares were traded during trading, a decline of 20% from the average daily volume of 4,163,044 shares. The stock had previously closed at $4.68.

Wall Street Analyst Weigh In

Several research firms 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 research note on Monday, August 12th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley raised their target price on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, CommScope presently has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Price Performance

The firm has a market cap of $1.10 billion, a P/E ratio of -1.15 and a beta of 2.09. The stock’s 50 day moving average is $5.75 and its two-hundred day moving average is $3.55.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) 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 company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COMM. Russell Investments Group Ltd. grew its holdings in CommScope by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 483,056 shares of the communications equipment provider’s stock worth $633,000 after acquiring an additional 92,657 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in CommScope by 10.9% in the first 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 purchasing an additional 461,264 shares during the last quarter. Virtu Financial LLC acquired a new position in CommScope in the first quarter valued at about $106,000. SG Americas Securities LLC boosted its holdings in CommScope by 66.5% during the second quarter. SG Americas Securities LLC now owns 89,782 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 35,846 shares during the last quarter. Finally, AA Financial Advisors LLC grew its position in shares of CommScope by 21.4% during the 2nd quarter. AA Financial Advisors LLC now owns 548,660 shares of the communications equipment provider’s stock worth $675,000 after buying an additional 96,718 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.