Cannell & Spears LLC Cuts Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Cannell & Spears LLC trimmed its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 67.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the communications equipment provider's stock after selling 61,000 shares during the period. Cannell & Spears LLC's holdings in CommScope were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI lifted its stake in CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider's stock worth $33,000 after purchasing an additional 2,857 shares during the last quarter. Quarry LP lifted its position in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider's stock worth $50,000 after buying an additional 7,380 shares during the last quarter. Sciencast Management LP purchased a new position in shares of CommScope in the 4th quarter valued at $56,000. Ballentine Partners LLC purchased a new position in shares of CommScope in the 4th quarter valued at $58,000. Finally, Jones Financial Companies Lllp acquired a new stake in CommScope during the 4th quarter worth $60,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

Shares of COMM stock traded down $0.48 during mid-day trading on Friday, hitting $3.62. The stock had a trading volume of 12,625,152 shares, compared to its average volume of 4,752,931. The firm has a market cap of $783.95 million, a PE ratio of -0.82, a PEG ratio of 0.41 and a beta of 1.98. The company's 50-day simple moving average is $5.24 and its 200-day simple moving average is $5.47. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $7.19.

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Wall Street Analyst Weigh In

COMM has been the topic of several research reports. JPMorgan Chase & Co. raised CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a report on Tuesday, January 14th. Morgan Stanley cut CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price objective for the company. in a research note on Tuesday, December 17th. Raymond James lowered shares of CommScope from a "market perform" rating to an "underperform" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of CommScope from a "hold" rating to a "buy" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CommScope has a consensus rating of "Hold" and a consensus price target of $4.75.

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.