Corton Capital Inc. Takes Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Corton Capital Inc. acquired a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,635 shares of the communications equipment provider’s stock, valued at approximately $88,000.

Other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of CommScope in the 4th quarter valued at $27,000. Sterling Capital Management LLC boosted its stake 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 purchasing an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 last quarter. Caliber Wealth Management LLC KS bought a new stake in shares of CommScope in the 1st quarter valued at $57,000. Finally, Covestor Ltd bought a new stake in shares of CommScope in the 4th quarter valued at $62,000. 88.04% of the stock is owned by institutional investors.

CommScope Stock Up 0.5%

Shares of NASDAQ COMM opened at $7.97 on Monday. The firm has a market cap of $1.73 billion, a PE ratio of 2.92, a P/E/G ratio of 0.23 and a beta of 2.38. CommScope Holding Company, Inc. has a 12-month low of $1.80 and a 12-month high of $8.67. The company’s fifty day simple moving average is $6.92 and its 200 day simple moving average is $5.60.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The business 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 firm earned ($0.08) earnings per share. CommScope’s revenue was up 23.5% on a year-over-year basis. On average, equities analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of CommScope from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 13th. Finally, Wolfe Research assumed coverage on shares of CommScope in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.88.

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.