Wedbush Securities Inc. Makes New $215,000 Investment in CommScope Holding Company, Inc. $COMM

Wedbush Securities Inc. purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 25,960 shares of the communications equipment provider’s stock, valued at approximately $215,000.

A number of other large investors have also modified their holdings of COMM. Nisa Investment Advisors LLC lifted its position in CommScope by 14.1% during the second quarter. Nisa Investment Advisors LLC now owns 14,121 shares of the communications equipment provider’s stock worth $117,000 after buying an additional 1,748 shares in the last quarter. US Bancorp DE lifted its stake in shares of CommScope by 27.0% in the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider’s stock valued at $108,000 after purchasing an additional 4,337 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of CommScope by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 63,433 shares of the communications equipment provider’s stock worth $337,000 after purchasing an additional 4,669 shares during the period. Banque Transatlantique SA acquired a new stake in shares of CommScope during the 1st quarter worth about $34,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CommScope by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,503 shares of the communications equipment provider’s stock worth $682,000 after buying an additional 7,149 shares during the period. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Trading Down 5.7%

NASDAQ COMM opened at $16.73 on Friday. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $17.98. The business’s 50 day moving average is $16.03 and its two-hundred day moving average is $11.35. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 5.10, a PEG ratio of 0.85 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COMM. Northland Capmk raised CommScope from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Zacks Research raised shares of CommScope from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Northland Securities set a $25.00 price objective on shares of CommScope in a report on Friday, October 31st. Bank of America boosted their price target on shares of CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Citigroup upgraded CommScope to an “outperform” rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CommScope presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.

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.