Bank of Montreal Can Invests $7.02 Million in CommScope Holding Company, Inc. (NASDAQ:COMM)

Bank of Montreal Can purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,149,502 shares of the communications equipment provider’s stock, valued at approximately $7,023,000.

Other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of CommScope during the 1st quarter worth approximately $106,000. SG Americas Securities LLC raised its position in CommScope by 66.5% in the second quarter. SG Americas Securities LLC now owns 89,782 shares of the communications equipment provider’s stock worth $110,000 after acquiring an additional 35,846 shares in the last quarter. AA Financial Advisors LLC lifted its holdings in CommScope by 21.4% in the second quarter. AA Financial Advisors LLC now owns 548,660 shares of the communications equipment provider’s stock valued at $675,000 after acquiring an additional 96,718 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of CommScope by 10.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock worth $158,000 after purchasing an additional 12,017 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of CommScope by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock valued at $1,469,000 after purchasing an additional 87,530 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley upped their price target on CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Northland Securities lifted their price objective on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, CommScope has a consensus rating of “Hold” and an average target price of $2.50.

CommScope Price Performance

Shares of CommScope stock opened at $4.86 on Tuesday. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $7.19. The business has a 50 day moving average price of $5.67 and a 200 day moving average price of $3.65. The company has a market capitalization of $1.05 billion, a P/E ratio of -1.10 and a beta of 2.09.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal 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.