CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,421,300 shares of the communications equipment provider's stock after acquiring an additional 421,000 shares during the period. Renaissance Technologies LLC owned 2.05% of CommScope worth $23,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of CommScope in the fourth quarter valued at about $27,000. National Bank of Canada FI lifted its stake in CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider's stock valued at $33,000 after buying an additional 2,857 shares in the last quarter. Sciencast Management LP acquired a new stake in CommScope during the 4th quarter valued at $56,000. Ballentine Partners LLC purchased a new position in CommScope during the fourth quarter worth $58,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of CommScope in the fourth quarter worth $60,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COMM. JPMorgan Chase & Co. raised shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research note on Tuesday, January 14th. StockNews.com upgraded shares of CommScope from a "hold" rating to a "buy" rating in a research report on Friday, February 28th. Morgan Stanley downgraded CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price target for the company. in a report on Tuesday, December 17th. Raymond James cut CommScope from a "market perform" rating to an "underperform" rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 target price on shares of CommScope in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, CommScope has an average rating of "Hold" and a consensus price target of $4.75.

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CommScope Price Performance

NASDAQ:COMM traded up $0.20 during trading hours on Tuesday, reaching $3.64. 4,461,276 shares of the company were exchanged, compared to its average volume of 4,878,952. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19. The stock has a 50 day simple moving average of $4.99 and a 200 day simple moving average of $5.31. The firm has a market cap of $788.28 million, a price-to-earnings ratio of -0.82, a PEG ratio of 0.41 and a beta of 1.98.

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.