Saba Capital Management L.P. Purchases 95,000 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Saba Capital Management L.P. raised its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 570,418 shares of the communications equipment provider’s stock after acquiring an additional 95,000 shares during the period. Saba Capital Management L.P. owned about 0.26% of CommScope worth $2,972,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COMM. Aster Capital Management DIFC Ltd bought a new position in CommScope in the fourth quarter valued at approximately $27,000. Sterling Capital Management LLC grew its position in shares of CommScope by 826.0% in the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 4,026 shares during the period. Sciencast Management LP acquired a new position in CommScope during the 4th quarter worth approximately $56,000. Finally, Ballentine Partners LLC purchased a new stake in shares of CommScope in the fourth quarter worth approximately $58,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Up 3.0%

COMM stock opened at $5.88 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -1.33, a P/E/G ratio of 0.41 and a beta of 2.06. The firm has a 50-day simple moving average of $4.55 and a 200-day simple moving average of $5.05. CommScope Holding Company, Inc. has a 52 week low of $1.05 and a 52 week high of $7.19.

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

Wall Street Analyst Weigh In

COMM has been the subject of a number of analyst reports. StockNews.com lowered CommScope from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.75.

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.