Penserra Capital Management LLC Invests $13.84 Million in CommScope Holding Company, Inc. $COMM

Penserra Capital Management LLC purchased a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,671,762 shares of the communications equipment provider’s stock, valued at approximately $13,842,000.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in shares of CommScope during the first quarter valued at approximately $258,000. Bank of New York Mellon Corp grew its position in CommScope by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider’s stock valued at $3,852,000 after purchasing an additional 41,286 shares during the period. Hussman Strategic Advisors Inc. increased its stake in CommScope by 100.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the communications equipment provider’s stock valued at $1,115,000 after purchasing an additional 105,000 shares in the last quarter. Allianz Asset Management GmbH increased its stake in CommScope by 1,152.3% during the 1st quarter. Allianz Asset Management GmbH now owns 186,600 shares of the communications equipment provider’s stock valued at $991,000 after purchasing an additional 171,700 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in CommScope during the first quarter worth $252,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Stock Performance

NASDAQ:COMM opened at $16.65 on Friday. CommScope Holding Company, Inc. has a 52 week low of $2.94 and a 52 week high of $17.93. The firm has a 50-day moving average price of $15.94 and a two-hundred day moving average price of $11.03. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 5.08, a price-to-earnings-growth ratio of 0.45 and a beta of 2.43.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.25. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.37 billion. CommScope had a negative return on equity of 13.70% and a net margin of 17.57%.CommScope’s quarterly revenue was up 50.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. As a group, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Northland Securities set a $25.00 price target on shares of CommScope in a research report on Friday, October 31st. Northland Capmk upgraded CommScope from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Citigroup raised CommScope to an “outperform” rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, CommScope currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.58.

CommScope Company 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.