CommScope (NASDAQ:COMM) Stock Price Up 6.4% - What's Next?

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s share price rose 6.4% during mid-day trading on Thursday . The stock traded as high as $6.40 and last traded at $6.57. Approximately 1,874,071 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,306,853 shares. The stock had previously closed at $6.17.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COMM shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 price objective on shares of CommScope in a report on Thursday. JPMorgan Chase & Co. upgraded shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a report on Tuesday, January 14th. Morgan Stanley downgraded CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price objective for the company. in a report on Tuesday, December 17th. StockNews.com raised CommScope from a "hold" rating to a "buy" rating in a report on Friday. Finally, Raymond James cut CommScope from a "market perform" rating to an "underperform" rating in a research note on Monday, January 6th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.00.

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CommScope Price Performance

The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -1.40, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90. The firm's fifty day moving average is $5.30 and its 200-day moving average is $5.34.

Institutional Investors Weigh In On CommScope

Several institutional investors and hedge funds have recently made changes to their positions in COMM. Public Employees Retirement System of Ohio increased its holdings in CommScope by 233.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 81,299 shares of the communications equipment provider's stock worth $424,000 after purchasing an additional 56,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of CommScope in the 4th quarter valued at $2,509,000. Voloridge Investment Management LLC lifted its position in shares of CommScope by 38.7% during the 4th quarter. Voloridge Investment Management LLC now owns 1,873,147 shares of the communications equipment provider's stock valued at $9,759,000 after acquiring an additional 522,941 shares during the period. Saba Capital Management L.P. boosted its stake in CommScope by 20.0% during the fourth quarter. Saba Capital Management L.P. now owns 570,418 shares of the communications equipment provider's stock worth $2,972,000 after acquiring an additional 95,000 shares in the last quarter. Finally, Sculptor Capital LP grew its holdings in CommScope by 218.7% in the fourth quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider's stock worth $8,352,000 after purchasing an additional 1,100,000 shares during the period. 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.