Clearline Capital LP Decreases Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Clearline Capital LP decreased its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,177 shares of the communications equipment provider’s stock after selling 107,860 shares during the period. Clearline Capital LP owned about 0.07% of CommScope worth $924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC lifted its position in shares of CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after buying an additional 840,742 shares during the last quarter. Monarch Alternative Capital LP purchased a new stake in CommScope during the third quarter valued at about $16,623,000. Assenagon Asset Management S.A. bought a new position in CommScope during the third quarter worth about $11,023,000. Marathon Asset Management LP increased its stake in shares of CommScope by 75.0% in the second 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 in the last quarter. Finally, Acadian Asset Management LLC raised its position 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 valued at $1,537,000 after purchasing an additional 953,171 shares during the period. 88.04% of the stock is owned by institutional investors.

CommScope Stock Down 6.1 %

CommScope stock opened at $4.77 on Monday. The business has a 50-day simple moving average of $5.70 and a 200 day simple moving average of $3.62. CommScope Holding Company, Inc. has a 52 week low of $0.86 and a 52 week high of $7.19. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -1.08 and a beta of 2.09.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data 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). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

COMM has been the subject of a number of recent research reports. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their target price on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Northland Securities increased their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.50.

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.