State Street Corp Grows Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

State Street Corp boosted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,588,286 shares of the communications equipment provider's stock after acquiring an additional 387,466 shares during the period. State Street Corp owned 2.13% of CommScope worth $28,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in COMM. Millennium Management LLC raised its holdings in shares of CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider's stock worth $6,242,000 after acquiring an additional 840,742 shares during the last quarter. Monarch Alternative Capital LP acquired a new position in CommScope in the 3rd quarter valued at about $16,623,000. Assenagon Asset Management S.A. purchased a new position in CommScope in the 3rd quarter valued at about $11,023,000. Marathon Asset Management LP boosted its stake in shares of CommScope by 75.0% during the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider's stock worth $2,152,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of CommScope by 319.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider's stock worth $1,537,000 after purchasing an additional 953,171 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Morgan Stanley downgraded shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price objective on the stock. in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.50.

CommScope Trading Down 1.4 %

COMM traded down $0.08 during midday trading on Monday, hitting $5.50. The company's stock had a trading volume of 2,681,847 shares, compared to its average volume of 4,169,172. The firm has a market cap of $1.19 billion, a P/E ratio of -1.24 and a beta of 1.96. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19. The firm has a 50-day moving average price of $5.51 and a two-hundred day moving average price of $4.06.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. On average, equities analysts expect that CommScope Holding Company, Inc. will post -0.77 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.