Cannell & Spears LLC Cuts Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Cannell & Spears LLC lessened its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 67.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,000 shares of the communications equipment provider’s stock after selling 61,000 shares during the period. Cannell & Spears LLC’s holdings in CommScope were worth $156,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI increased its stake in shares of CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the last quarter. Quarry LP increased its position in CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 7,380 shares during the last quarter. Sciencast Management LP bought a new stake in shares of CommScope in the fourth quarter valued at $56,000. Ballentine Partners LLC purchased a new position in shares of CommScope during the 4th quarter valued at $58,000. Finally, Jones Financial Companies Lllp bought a new position in shares of CommScope during the 4th quarter worth $60,000. Institutional investors own 88.04% of the company’s stock.

Analysts Set New Price Targets

COMM has been the topic of several recent research reports. StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target on shares of CommScope in a report on Thursday, February 27th. Finally, Morgan Stanley lowered 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.75.

CommScope Stock Performance

CommScope stock opened at $5.37 on Wednesday. The stock has a market cap of $1.16 billion, a P/E ratio of -1.21, a PEG ratio of 0.41 and a beta of 1.89. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $7.19. The firm’s fifty day moving average price is $5.32 and its 200-day moving average price is $5.50.

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.