The Manufacturers Life Insurance Company Has $507,000 Stock Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

The Manufacturers Life Insurance Company lessened its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 4.2% during the 3rd quarter, Holdings Channel reports. The firm owned 82,906 shares of the communications equipment provider’s stock after selling 3,603 shares during the period. The Manufacturers Life Insurance Company’s holdings in CommScope were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC boosted its position in shares of CommScope by 19.9% in the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after purchasing an additional 840,742 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of CommScope during the 3rd quarter worth about $11,023,000. Marathon Asset Management LP increased its stake in shares of CommScope by 75.0% in the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after acquiring an additional 750,000 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of CommScope by 319.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after acquiring an additional 953,171 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in CommScope by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock worth $1,469,000 after acquiring an additional 87,530 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their target price on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Price Performance

NASDAQ:COMM opened at $5.74 on Friday. The business’s 50-day simple moving average is $5.54 and its 200-day simple moving average is $3.90. 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 capitalization of $1.24 billion, a PE ratio of -1.30 and a beta of 1.95.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

CommScope 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.