VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in CommScope Holding Company, Inc. $COMM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 66,200 shares of the communications equipment provider’s stock, valued at approximately $548,000.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CommScope during the first quarter valued at $143,000. KBC Group NV acquired a new stake in shares of CommScope during the first quarter valued at $65,000. Bank of New York Mellon Corp boosted its stake in shares of CommScope by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider’s stock valued at $3,852,000 after acquiring an additional 41,286 shares during the last quarter. Mariner Investment Group LLC acquired a new stake in shares of CommScope during the second quarter valued at $207,000. Finally, Inspire Investing LLC boosted its stake in shares of CommScope by 166.3% during the first quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider’s stock valued at $1,093,000 after acquiring an additional 128,511 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Raymond James Financial raised CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research note on Tuesday, August 5th. Zacks Research lowered CommScope from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Northland Securities set a $20.00 price target on CommScope in a research note on Tuesday, August 5th. Finally, Northland Capmk raised CommScope from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, CommScope has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

CommScope Trading Down 0.3%

Shares of NASDAQ:COMM opened at $15.81 on Friday. The stock’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $10.04. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $17.13. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 0.55 and a beta of 2.42.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The company’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. As a group, research analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

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.