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

Walleye Capital LLC boosted its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 132.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,802 shares of the communications equipment provider’s stock after buying an additional 363,169 shares during the quarter. Walleye Capital LLC owned approximately 0.29% of CommScope worth $3,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in CommScope during the 2nd quarter valued at about $144,000. XTX Topco Ltd lifted its position 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 during the last quarter. Marathon Asset Management LP boosted its stake in shares of CommScope by 75.0% during the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after purchasing an additional 750,000 shares during the period. Point72 DIFC Ltd bought a new position in shares of CommScope in the second quarter worth approximately $140,000. Finally, Semanteon Capital Management LP purchased a new position in shares of CommScope in the third quarter worth $1,139,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Price Performance

Shares of COMM opened at $4.86 on Tuesday. CommScope Holding Company, Inc. has a one year low of $0.86 and a one year high of $7.19. The firm has a market capitalization of $1.05 billion, a PE ratio of -1.10 and a beta of 2.09. The company has a 50-day simple moving average of $5.67 and a two-hundred day simple moving average of $3.65.

CommScope (NASDAQ:COMM) last posted 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). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. During the same period in the previous year, the firm earned $0.10 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Northland Securities increased their price objective on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.50.

About CommScope

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.