Walleye Capital LLC Increases Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Walleye Capital LLC grew its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 132.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 636,802 shares of the communications equipment provider's stock after acquiring an additional 363,169 shares during the quarter. Walleye Capital LLC owned about 0.29% of CommScope worth $3,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in CommScope in the first quarter worth $106,000. SG Americas Securities LLC increased its stake in CommScope by 66.5% in the second quarter. SG Americas Securities LLC now owns 89,782 shares of the communications equipment provider's stock worth $110,000 after purchasing an additional 35,846 shares during the period. AA Financial Advisors LLC increased its stake in CommScope by 21.4% in the second quarter. AA Financial Advisors LLC now owns 548,660 shares of the communications equipment provider's stock worth $675,000 after purchasing an additional 96,718 shares during the period. SummerHaven Investment Management LLC increased its stake in CommScope by 10.4% in the second quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider's stock worth $158,000 after purchasing an additional 12,017 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in CommScope by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider's stock worth $1,469,000 after purchasing an additional 87,530 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

COMM stock traded down $0.07 during trading on Tuesday, reaching $4.79. 4,107,102 shares of the company traded hands, compared to its average volume of 4,173,803. CommScope Holding Company, Inc. has a 12 month low of $0.86 and a 12 month high of $7.19. The business has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $3.65.

CommScope (NASDAQ:COMM - Get Free Report) last issued 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 business had revenue of $1.08 billion during 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%. CommScope's revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Research analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COMM. StockNews.com upgraded CommScope from a "sell" rating to a "hold" rating in a research note on Thursday, August 15th. Morgan Stanley raised their price target on CommScope from $2.70 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Finally, Northland Securities raised their price target on CommScope from $1.25 to $2.00 and gave the company a "market perform" rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $2.50.

CommScope 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.