Marathon Asset Management LP Raises Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Marathon Asset Management LP grew its position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 75.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,750,000 shares of the communications equipment provider's stock after purchasing an additional 750,000 shares during the period. CommScope comprises about 1.9% of Marathon Asset Management LP's portfolio, making the stock its 4th largest position. Marathon Asset Management LP owned approximately 0.82% of CommScope worth $2,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP raised its stake in CommScope by 42.7% during the 4th quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider's stock worth $36,862,000 after buying an additional 3,911,673 shares during the period. Acadian Asset Management LLC increased its holdings in shares of CommScope by 319.3% in the second 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 in the last quarter. P Schoenfeld Asset Management LP raised its position in shares of CommScope by 233.3% during the second quarter. P Schoenfeld Asset Management LP now owns 1,000,000 shares of the communications equipment provider's stock worth $1,230,000 after purchasing an additional 700,000 shares during the period. Highland Peak Capital LLC bought a new position in shares of CommScope during the 2nd quarter valued at about $689,000. Finally, Brigade Capital Management LP grew its position in shares of CommScope by 202.3% in the 4th quarter. Brigade Capital Management LP now owns 777,000 shares of the communications equipment provider's stock valued at $2,191,000 after purchasing an additional 520,000 shares during the period. 88.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COMM. StockNews.com raised shares of CommScope from a "sell" rating to a "hold" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Finally, Northland Securities increased their target price on CommScope from $1.25 to $2.00 and gave the stock a "market perform" rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, CommScope has an average rating of "Hold" and a consensus target price of $1.75.

CommScope Stock Up 1.8 %

COMM traded up $0.11 during trading hours on Friday, hitting $6.11. 3,883,666 shares of the company's stock were exchanged, compared to its average volume of 4,127,944. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $6.75. The stock's 50-day moving average is $3.86 and its two-hundred day moving average is $2.15. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -0.68, a PEG ratio of 0.28 and a beta of 2.08.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $0.14 EPS. CommScope's revenue was down 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

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.