Monarch Alternative Capital LP Invests $16.62 Million in CommScope Holding Company, Inc. (NASDAQ:COMM)

Monarch Alternative Capital LP bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,720,575 shares of the communications equipment provider's stock, valued at approximately $16,623,000. CommScope makes up 2.5% of Monarch Alternative Capital LP's investment portfolio, making the stock its 6th largest holding. Monarch Alternative Capital LP owned about 1.26% of CommScope at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in COMM. Future Financial Wealth Managment LLC acquired a new stake in CommScope during the third quarter worth about $31,000. Belvedere Trading LLC bought a new position in CommScope in the third quarter valued at approximately $68,000. Creative Planning acquired a new position in CommScope during the third quarter valued at approximately $73,000. Hanseatic Management Services Inc. bought a new stake in CommScope during the third quarter worth $76,000. Finally, Fore Capital LLC boosted its holdings in shares of CommScope by 36.5% in the 2nd 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 owned by institutional investors.

CommScope Stock Performance

Shares of COMM stock traded down $0.31 during trading hours on Friday, hitting $4.77. 1,623,197 shares of the company were exchanged, compared to its average volume of 5,238,253. The company has a 50 day simple moving average of $5.70 and a two-hundred day simple moving average of $3.61. The firm has a market cap of $1.03 billion, a P/E ratio of -1.08 and a beta of 2.09. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. As a group, sell-side analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COMM has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on CommScope from $2.70 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Northland Securities increased their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a "market perform" rating in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of CommScope from a "sell" rating to a "hold" rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, CommScope presently has a consensus rating of "Hold" and a consensus 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.