CommScope (NASDAQ:COMM) Trading Down 7% – Here’s What Happened

by · The Markets Daily

CommScope Holding Company, Inc. (NASDAQ:COMM – Get Free Report)’s stock price fell 7% on Thursday . The company traded as low as $5.69 and last traded at $5.70. 2,208,129 shares were traded during trading, a decline of 47% from the average session volume of 4,155,236 shares. The stock had previously closed at $6.13.

Analyst Ratings Changes

Separately, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, CommScope presently has an average rating of “Hold” and an average target price of $2.50.

Read Our Latest Report on CommScope

CommScope Trading Down 2.1 %

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -1.26 and a beta of 1.95. The company has a fifty day simple moving average of $5.51 and a 200-day simple moving average of $4.03.

CommScope (NASDAQ:COMM – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of COMM. BNP Paribas Financial Markets lifted its position in CommScope by 415.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock worth $1,150,000 after buying an additional 151,640 shares in the last quarter. Monarch Alternative Capital LP purchased a new stake in shares of CommScope during the third quarter worth $16,623,000. Cubist Systematic Strategies LLC acquired a new stake in CommScope during the second quarter valued at $144,000. XTX Topco Ltd grew its stake in CommScope by 263.1% in the second quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after purchasing an additional 143,654 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in CommScope in the 3rd quarter worth about $894,000. 88.04% of the stock is owned by institutional investors and hedge funds.

CommScope Company Profile

(Get Free Report)

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.

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