CommScope (NASDAQ:COMM) Shares Down 7% – Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares traded down 7% on Thursday . The company traded as low as $5.69 and last traded at $5.70. 2,208,129 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 4,155,236 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

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

CommScope Price Performance

The company’s 50-day moving average is $5.53 and its two-hundred day moving average is $3.99. The company has a market cap of $1.23 billion, a P/E ratio of -1.29 and a beta of 1.95.

CommScope (NASDAQ:COMM) last released 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 during 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%. CommScope’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Institutional Investors Weigh In On CommScope

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in CommScope by 66.5% in the 2nd quarter. SG Americas Securities LLC now owns 89,782 shares of the communications equipment provider’s stock valued at $110,000 after acquiring an additional 35,846 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in CommScope by 10.4% during the 2nd 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. Bank of New York Mellon Corp grew its position in shares of CommScope by 7.9% during the 2nd 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 buying an additional 87,530 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of CommScope by 23.3% in the second quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock valued at $427,000 after acquiring an additional 65,605 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of CommScope by 319.3% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.