Semanteon Capital Management LP Acquires New Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Semanteon Capital Management LP purchased a new stake in 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 purchased 186,448 shares of the communications equipment provider's stock, valued at approximately $1,139,000. Semanteon Capital Management LP owned 0.09% of CommScope at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of CommScope by 5.4% in the second 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 period. Future Financial Wealth Managment LLC bought a new position in CommScope in the 3rd quarter valued at about $31,000. Creative Planning acquired a new stake in CommScope during the third quarter worth approximately $73,000. SummerHaven Investment Management LLC boosted its holdings in shares of CommScope by 10.4% during the second quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider's stock worth $158,000 after acquiring an additional 12,017 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of CommScope in the third quarter valued at approximately $109,000. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Trading Up 7.7 %

COMM stock traded up $0.48 during mid-day trading on Monday, hitting $6.70. The stock had a trading volume of 4,588,614 shares, compared to its average volume of 4,064,431. The firm has a fifty day simple moving average of $5.41 and a 200 day simple moving average of $2.90. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $6.76. The firm has a market capitalization of $1.42 billion, a P/E ratio of -0.76, a P/E/G ratio of 0.28 and a beta of 2.10.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The firm's revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities analysts expect that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on COMM shares. StockNews.com upgraded CommScope from a "sell" rating to a "hold" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. Finally, Northland Securities increased their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a "market perform" rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, CommScope has a consensus rating of "Hold" and an average price target of $1.75.

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.