CommScope (NASDAQ:COMM) Stock Price Down 6% - Here's Why

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) fell 6% during mid-day trading on Friday . The stock traded as low as $5.42 and last traded at $5.48. 973,298 shares changed hands during trading, a decline of 77% from the average session volume of 4,142,654 shares. The stock had previously closed at $5.83.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price target for the company. in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.50.

CommScope Stock Performance

The stock's 50-day moving average price is $5.50 and its two-hundred day moving average price is $4.17. The stock has a market capitalization of $1.19 billion, a PE ratio of -1.25 and a beta of 1.95.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the company posted $0.10 EPS. CommScope's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COMM. National Bank of Canada FI increased its holdings in shares of 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 valued at $33,000 after acquiring an additional 2,857 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in 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 valued at $106,000 after purchasing an additional 4,466 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in CommScope during the 3rd quarter valued at about $31,000. Quarry LP raised its holdings in CommScope by 1,005.4% in the third 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. Finally, Belvedere Trading LLC bought a new position in shares of CommScope in the third quarter worth approximately $68,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

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.