JPMorgan Chase & Co. grew its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 151.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 900,089 shares of the communications equipment provider's stock after acquiring an additional 542,794 shares during the period. JPMorgan Chase & Co. owned 0.42% of CommScope worth $5,500,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in COMM. National Bank of Canada FI grew its stake in shares of CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider's stock valued at $33,000 after acquiring an additional 2,857 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of CommScope by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider's stock worth $106,000 after purchasing an additional 4,466 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of CommScope during the third quarter worth approximately $31,000. Quarry LP increased its holdings in shares of CommScope by 1,005.4% during the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider's stock worth $50,000 after purchasing an additional 7,380 shares during the period. Finally, Belvedere Trading LLC acquired a new stake in shares of CommScope in the third quarter valued at approximately $68,000. Institutional investors own 88.04% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. JPMorgan Chase & Co. upgraded CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a research note on Tuesday. Raymond James cut CommScope from a "market perform" rating to an "underperform" rating in a research report on Monday, January 6th. Finally, Morgan Stanley cut 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 analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, CommScope presently has an average rating of "Hold" and a consensus target price of $3.00.
Read Our Latest Report on COMM
CommScope Price Performance
Shares of COMM stock traded down $0.04 on Friday, hitting $5.36. 2,676,848 shares of the company's stock were exchanged, compared to its average volume of 3,947,850. CommScope Holding Company, Inc. has a 12 month low of $0.86 and a 12 month high of $7.19. The company has a 50 day moving average of $5.17 and a 200 day moving average of $4.58. The stock has a market cap of $1.16 billion, a P/E ratio of -1.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.92.
CommScope (NASDAQ:COMM - Get Free Report) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts' consensus estimates 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 firm's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.10 EPS. Sell-side analysts predict that CommScope Holding Company, Inc. will post -0.85 EPS for the current fiscal year.
CommScope Profile
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Free Report)
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.
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