CommScope Holding Company, Inc. (NASDAQ:COMM) Sees Significant Increase in Short Interest

CommScope Holding Company, Inc. (NASDAQ:COMM) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 10,530,000 shares, a growth of 16.0% from the February 13th total of 9,080,000 shares. Based on an average trading volume of 4,590,000 shares, the short-interest ratio is presently 2.3 days. Approximately 5.0% of the company’s stock are short sold.

Hedge Funds Weigh In On CommScope

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in CommScope by 1,219.1% during the 4th quarter. California State Teachers Retirement System now owns 201,759 shares of the communications equipment provider’s stock valued at $1,051,000 after purchasing an additional 186,464 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in CommScope by 233.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 81,299 shares of the communications equipment provider’s stock valued at $424,000 after purchasing an additional 56,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in CommScope during the 4th quarter valued at $2,509,000. Voloridge Investment Management LLC raised its stake in CommScope by 38.7% during the 4th quarter. Voloridge Investment Management LLC now owns 1,873,147 shares of the communications equipment provider’s stock valued at $9,759,000 after purchasing an additional 522,941 shares during the last quarter. Finally, Saba Capital Management L.P. raised its stake in CommScope by 20.0% during the 4th quarter. Saba Capital Management L.P. now owns 570,418 shares of the communications equipment provider’s stock valued at $2,972,000 after purchasing an additional 95,000 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Tuesday, January 14th. Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research note on Tuesday, December 17th. StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, CommScope presently has an average rating of “Hold” and a consensus price target of $4.75.

CommScope Trading Up 5.4 %

NASDAQ:COMM traded up $0.29 during trading hours on Wednesday, hitting $5.54. 5,603,495 shares of the company traded hands, compared to its average volume of 4,416,059. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -1.25, a P/E/G ratio of 0.41 and a beta of 1.89. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19. The firm has a 50-day moving average of $5.27 and a 200 day moving average of $5.42.

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.