Optimize Financial Inc Invests $1.71 Million in CommScope Holding Company, Inc. $COMM

Optimize Financial Inc purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 321,961 shares of the communications equipment provider’s stock, valued at approximately $1,710,000. CommScope comprises approximately 0.6% of Optimize Financial Inc’s holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock valued at $50,437,000 after purchasing an additional 6,743,929 shares during the last quarter. Apollo Management Holdings L.P. acquired a new position in CommScope in the 1st quarter valued at about $32,806,000. Deutsche Bank AG raised its stake in CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock valued at $48,396,000 after purchasing an additional 5,996,931 shares during the last quarter. LMR Partners LLP acquired a new position in CommScope in the 4th quarter valued at about $14,328,000. Finally, Nuveen LLC acquired a new position in CommScope in the 1st quarter valued at about $13,507,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Price Performance

NASDAQ COMM opened at $16.19 on Tuesday. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $16.61. The company has a 50-day moving average of $11.94 and a 200-day moving average of $7.60. The company has a market cap of $3.59 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.55 and a beta of 2.46.

CommScope (NASDAQ:COMM) last issued its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on COMM shares. Wolfe Research started coverage on shares of CommScope in a research note on Monday, July 7th. They issued a “peer perform” rating for the company. Northland Capmk raised shares of CommScope from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Raymond James Financial raised shares of CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Tuesday, August 5th. Citigroup upgraded CommScope to an “outperform” rating in a report on Monday, August 4th. Finally, Morgan Stanley raised shares of CommScope from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $4.00 to $17.00 in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, CommScope presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

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.