Hudson Bay Capital Management LP Sells 275,000 Shares of CommScope Holding Company, Inc. $COMM

Hudson Bay Capital Management LP reduced its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 21.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,000,000 shares of the communications equipment provider’s stock after selling 275,000 shares during the period. Hudson Bay Capital Management LP’s holdings in CommScope were worth $8,280,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COMM. Ameritas Investment Partners Inc. grew its stake in CommScope by 5.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 21,792 shares of the communications equipment provider’s stock valued at $180,000 after buying an additional 1,191 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in CommScope by 14.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,121 shares of the communications equipment provider’s stock worth $117,000 after acquiring an additional 1,748 shares during the period. Raymond James Financial Inc. grew its holdings in shares of CommScope by 11.7% during the 2nd quarter. Raymond James Financial Inc. now owns 24,114 shares of the communications equipment provider’s stock worth $200,000 after purchasing an additional 2,525 shares in the last quarter. Cetera Investment Advisers grew its stake in CommScope by 15.1% during the second quarter. Cetera Investment Advisers now owns 23,054 shares of the communications equipment provider’s stock worth $191,000 after buying an additional 3,017 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of CommScope by 27.0% during the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider’s stock worth $108,000 after acquiring an additional 4,337 shares in the last quarter. 88.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COMM. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Bank of America boosted their target price on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued 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 report on Friday, October 31st. Finally, Zacks Research raised shares of CommScope from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.

CommScope Trading Down 2.1%

NASDAQ:COMM opened at $19.03 on Tuesday. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $20.55. The stock has a market cap of $4.22 billion, a P/E ratio of 5.80, a price-to-earnings-growth ratio of 0.93 and a beta of 2.38. The stock’s 50-day moving average is $17.23 and its 200-day moving average is $13.53.

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.