LMR Partners LLP Acquires Shares of 2,750,000 CommScope Holding Company, Inc. (NASDAQ:COMM)

LMR Partners LLP bought a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 4th quarter, Holdings Channel reports. The fund bought 2,750,000 shares of the communications equipment provider’s stock, valued at approximately $14,328,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COMM. Franklin Resources Inc. acquired a new stake in CommScope during the 3rd quarter valued at approximately $755,000. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 542,794 shares in the last quarter. Diversified Trust Co increased its stake in shares of CommScope by 11.1% in the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after buying an additional 4,827 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of CommScope in the fourth quarter worth $58,000. Finally, SG Americas Securities LLC raised its holdings in CommScope by 130.6% in the fourth quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock valued at $238,000 after acquiring an additional 25,855 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COMM shares. 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 report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 price target on shares of CommScope in a research note on Thursday, February 27th. Finally, StockNews.com upgraded CommScope from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CommScope has an average rating of “Hold” and an average target price of $4.75.

CommScope Stock Down 1.2%

COMM opened at $4.82 on Monday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -1.09, a price-to-earnings-growth ratio of 0.41 and a beta of 2.06. CommScope Holding Company, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $7.19. The company’s 50-day moving average price is $4.50 and its 200 day moving average price is $5.06.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. Research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current 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.