CommScope (NASDAQ:COMM) Shares Down 6.1% – Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares were down 6.1% on Wednesday . The stock traded as low as $5.81 and last traded at $5.78. Approximately 1,853,067 shares traded hands during trading, a decline of 59% from the average daily volume of 4,563,761 shares. The stock had previously closed at $6.15.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COMM. Morgan Stanley lowered 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 report on Tuesday, December 17th. StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, CommScope has an average rating of “Hold” and a consensus price target of $4.00.

CommScope Stock Down 4.8 %

The firm’s 50-day moving average is $5.31 and its 200-day moving average is $5.36. The company has a market capitalization of $1.15 billion, a PE ratio of -1.20, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90.

Hedge Funds Weigh In On CommScope

Several institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in CommScope in the fourth quarter worth approximately $27,000. National Bank of Canada FI lifted its holdings in shares of CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 2,857 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of CommScope by 826.0% in the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 6,030 shares in the last quarter. Quarry LP grew its holdings in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 7,380 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 4,026 shares during the period. 88.04% of the stock is currently owned by institutional investors.

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.