CommScope (NASDAQ:COMM) Shares Down 17.7% - Here's What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s share price traded down 17.7% on Thursday . The stock traded as low as $4.67 and last traded at $4.44. 1,123,818 shares traded hands during trading, a decline of 76% from the average session volume of 4,641,323 shares. The stock had previously closed at $5.39.

Analysts Set New Price Targets

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

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CommScope Price Performance

The firm has a market capitalization of $748.22 million, a P/E ratio of -0.77, a P/E/G ratio of 0.41 and a beta of 1.98. The stock's fifty day simple moving average is $5.22 and its 200 day simple moving average is $5.45.

Institutional Investors Weigh In On CommScope

Institutional investors have recently bought and sold shares of the company. National Bank of Canada FI lifted its holdings in shares of CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider's stock valued at $33,000 after purchasing an additional 2,857 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after buying an additional 4,026 shares during the last quarter. Bayesian Capital Management LP raised its stake in CommScope by 25.6% in the fourth quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider's stock valued at $115,000 after buying an additional 4,500 shares during the last quarter. Diversified Trust Co boosted its holdings in CommScope by 11.1% in the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider's stock worth $252,000 after acquiring an additional 4,827 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of CommScope during the fourth quarter worth about $27,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

About CommScope

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.