SG Americas Securities LLC Sells 69,987 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

SG Americas Securities LLC lowered its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 78.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,795 shares of the communications equipment provider’s stock after selling 69,987 shares during the quarter. SG Americas Securities LLC’s holdings in CommScope were worth $121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 25,212 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CommScope by 15.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock valued at $248,000 after buying an additional 24,523 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in CommScope in the first quarter worth $369,000. Cubist Systematic Strategies LLC purchased a new stake in CommScope in the second quarter worth $144,000. Finally, BNP Paribas Financial Markets lifted its stake in CommScope by 31.9% in the first quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock worth $595,000 after acquiring an additional 109,753 shares during the period. Institutional investors own 88.04% of the company’s stock.

CommScope Trading Down 2.0 %

COMM opened at $6.22 on Friday. The stock has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $2.84. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -0.70, a price-to-earnings-growth ratio of 0.28 and a beta of 2.10. CommScope Holding Company, Inc. has a 12-month low of $0.86 and a 12-month high of $6.75.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. CommScope’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. On average, analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on COMM shares. Deutsche Bank Aktiengesellschaft raised their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Northland Securities raised their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.75.

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.