CommScope (NASDAQ:COMM) Shares Gap Down - Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $5.27, but opened at $5.00. CommScope shares last traded at $5.10, with a volume of 627,213 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James lowered shares of CommScope from a "market perform" rating to an "underperform" rating in a research note on Monday. Morgan Stanley downgraded CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, CommScope has a consensus rating of "Reduce" and an average price target of $2.50.

CommScope Stock Performance

The business has a 50 day moving average of $5.41 and a 200-day moving average of $4.35. The company has a market capitalization of $1.15 billion, a P/E ratio of -1.21 and a beta of 1.92.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly 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). The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities analysts forecast that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in CommScope by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider's stock valued at $1,469,000 after purchasing an additional 87,530 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of CommScope by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider's stock worth $427,000 after acquiring an additional 65,605 shares during the last quarter. Acadian Asset Management LLC lifted 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 last quarter. Headlands Technologies LLC increased its stake in CommScope by 350.5% in the second quarter. Headlands Technologies LLC now owns 107,915 shares of the communications equipment provider's stock valued at $133,000 after acquiring an additional 83,962 shares during the last quarter. Finally, Fore Capital LLC raised its position in CommScope by 36.5% during the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider's stock valued at $92,000 after purchasing an additional 20,000 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors.

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.