Point72 Asia Singapore Pte. Ltd. Sells 118,814 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Point72 Asia Singapore Pte. Ltd. cut its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 63.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Monarch Alternative Capital LP purchased a new stake in shares of CommScope during the 3rd quarter valued at about $16,623,000. Verition Fund Management LLC boosted its holdings in CommScope by 1,855.5% in the third quarter. Verition Fund Management LLC now owns 340,167 shares of the communications equipment provider's stock worth $2,078,000 after purchasing an additional 322,772 shares during the last quarter. Walleye Capital LLC grew its position in CommScope by 132.7% in the 3rd quarter. Walleye Capital LLC now owns 636,802 shares of the communications equipment provider's stock worth $3,891,000 after purchasing an additional 363,169 shares during the period. BNP Paribas Financial Markets raised its stake in CommScope by 415.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider's stock valued at $1,150,000 after buying an additional 151,640 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of CommScope by 47.3% in the 3rd quarter. Quantbot Technologies LP now owns 239,098 shares of the communications equipment provider's stock worth $1,461,000 after buying an additional 76,755 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

CommScope Price Performance

Shares of NASDAQ:COMM traded down $0.07 during mid-day trading on Tuesday, reaching $4.79. 4,107,102 shares of the company traded hands, compared to its average volume of 4,173,803. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19. The firm has a market cap of $1.03 billion, a PE ratio of -1.08 and a beta of 1.95. The company's 50 day moving average price is $5.64 and its 200-day moving average price is $3.67.

CommScope (NASDAQ:COMM - Get Free Report) last issued its earnings results 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 firm 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 company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. On average, research analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Northland Securities increased their target price on CommScope from $1.25 to $2.00 and gave the company a "market perform" rating in a report on Monday, August 12th. Morgan Stanley increased their price objective 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, StockNews.com upgraded shares of CommScope from a "sell" rating to a "hold" rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, CommScope presently has a consensus rating of "Hold" and an average price target of $2.50.

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.