Hussman Strategic Advisors Inc. Acquires New Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Hussman Strategic Advisors Inc. bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the fourth quarter, HoldingsChannel reports. The firm bought 105,000 shares of the communications equipment provider’s stock, valued at approximately $547,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COMM. Monarch Alternative Capital LP acquired a new position in CommScope during the third quarter worth about $16,623,000. Assenagon Asset Management S.A. acquired a new position in CommScope during the third quarter worth about $11,023,000. Bank of Montreal Can acquired a new position in CommScope during the third quarter worth about $7,023,000. Two Sigma Advisers LP raised its position in CommScope by 29.3% during the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after acquiring an additional 975,200 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after acquiring an additional 542,794 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on COMM. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. Finally, 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. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.00.

CommScope Stock Performance

CommScope stock opened at $5.43 on Friday. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $7.19. The firm has a 50 day moving average price of $5.32 and a 200 day moving average price of $5.16. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -1.23, a PEG ratio of 0.38 and a beta of 1.90.

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.