CommScope (NASDAQ:COMM) Stock Price Down 3.1% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price dropped 3.1% during mid-day trading on Friday . The company traded as low as $4.91 and last traded at $4.92. Approximately 514,205 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,172,819 shares. The stock had previously closed at $5.08.

Wall Street Analyst Weigh In

COMM has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Northland Securities boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Down 6.1 %

The firm’s 50-day simple moving average is $5.73 and its 200 day simple moving average is $3.56.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

Institutional Trading of CommScope

Several institutional investors and hedge funds have recently added to or reduced their stakes in COMM. Virtu Financial LLC acquired a new stake in CommScope during the first quarter valued at approximately $106,000. SG Americas Securities LLC lifted its position in shares of 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 in the last quarter. AA Financial Advisors LLC lifted its position in shares of CommScope by 21.4% in the 2nd quarter. AA Financial Advisors LLC now owns 548,660 shares of the communications equipment provider’s stock valued at $675,000 after acquiring an additional 96,718 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of CommScope by 10.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock valued at $158,000 after acquiring an additional 12,017 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of CommScope by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock valued at $1,469,000 after acquiring an additional 87,530 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

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.