Invesco Ltd. Cuts Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Invesco Ltd. reduced its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,360,135 shares of the communications equipment provider’s stock after selling 10,167 shares during the quarter. Invesco Ltd.’s holdings in CommScope were worth $27,926,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in CommScope in the 4th quarter worth approximately $27,000. National Bank of Canada FI increased its stake in shares of CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 2,857 shares during the period. Sciencast Management LP purchased a new position in shares of CommScope in the fourth quarter worth $56,000. Ballentine Partners LLC bought a new stake in CommScope during the 4th quarter valued at $58,000. Finally, Jones Financial Companies Lllp bought a new stake in CommScope in the 4th quarter worth $60,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COMM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, CommScope presently has a consensus rating of “Hold” and a consensus target price of $4.75.

CommScope Stock Performance

CommScope stock opened at $3.33 on Friday. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $7.19. The stock has a market cap of $721.15 million, a price-to-earnings ratio of -0.75, a PEG ratio of 0.41 and a beta of 1.98. The stock’s 50 day simple moving average is $4.92 and its two-hundred day simple moving average is $5.28.

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.