Short Interest in CommScope Holding Company, Inc. (NASDAQ: COMM) Increases 20.4%

CommScope Holding Company, Inc. (NASDAQ: COMM) saw strong growth in short-term interest in October. As of October 29, there was short interest totaling 8,720,000 shares, an increase of 20.4% from the total of 7,240,000 shares as of October 14. Based on an average daily trading volume of 3,360,000 shares, the day-to-coverage ratio is currently 2.6 days. Currently 4.4% of the shares are sold short.

Actions of NASDAQ: COMM opened for $ 9.68 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.05, and a debt ratio of 137.66. The stock has a market cap of $ 1.98 billion, a PE ratio of -4.84, a PEG ratio of 0.61, and a beta of 1.70. CommScope has a 12-month minimum of $ 9.25 and a 12-month high of $ 22.18. The company has a 50-day moving average of $ 12.01 and a 200-day moving average of $ 16.48.

CommScope (NASDAQ: COMM) last announced its quarterly earnings data on Thursday, November 4. The communications equipment provider reported earnings per share (EPS) of $ 0.29 for the quarter, missing analyst consensus estimates of $ 0.34 per ($ 0.05). The company posted revenue of $ 2.11 billion in the quarter, compared to analysts’ estimates of $ 2.21 billion. CommScope had a negative net margin of 4.14% and a positive return on equity of 269.72%. The company’s revenue for the quarter was down 2.9% from the same quarter last year. During the same period of the previous year, the company made a profit of $ 0.37 per share. On average, research analysts predict that CommScope will post 1.02 EPS for the current fiscal year.

Several equity research analysts recently commented on COMM stocks. Deutsche Bank Aktiengesellschaft cut its target price on CommScope shares from $ 18.00 to $ 14.00 and set a “buy” rating on the stock in a research note on Tuesday, November 9. Bank of America downgraded CommScope’s stock rating from a “buy” to a “neutral” rating and lowered its target price for the company from $ 22.00 to $ 15.00 in a research note Thursday September 23. Credit Suisse Group lowered its price target on CommScope shares from $ 12.00 to $ 9.20 and set a “neutral” rating for the company in a report released on Friday, November 5. Ultimately, Zacks investment research downgraded CommScope from a “conservation” rating to a “strong sell” rating and set a price target of $ 8.50 for the share. in a research note on Monday, November 15. Three investment analysts gave the stock a sell rating, two assigned a conservation rating, and six gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 17.25.

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In related news, SVP Justin C. Choi bought 15,384 shares in a trade on Monday, November 8. The shares were purchased at an average price of $ 9.75 per share, for a total transaction of $ 149,994.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, director Claudius E. Iv Watts bought 20,000 shares of the company in a transaction that took place on Wednesday, November 10. The shares were purchased at an average price of $ 9.55 per share, for a total value of $ 191,000.00. Disclosure of this purchase can be found here. Insiders have acquired a total of 65,384 shares of the company valued at $ 639,794 in the past 90 days. 2.70% of the shares are held by insiders.

Hedge funds and other institutional investors have recently changed their positions in the company. Vanguard Group Inc. increased its holdings in CommScope by 5.8% in the second quarter. Vanguard Group Inc. now owns 22,883,071 shares of the communications equipment supplier valued at $ 487,639,000 after purchasing an additional 1,259,874 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CommScope by 1.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,940,735 shares of the communications equipment supplier valued at $ 318,388,000 after purchasing an additional 234,229 shares in the last quarter. BlackRock Inc. increased its stake in CommScope by 4.5% during the 3rd quarter. BlackRock Inc. now owns 10,669,627 shares of the communications equipment supplier valued at $ 145,001,000 after purchasing an additional 463,338 shares in the last quarter. Boston Partners increased its stake in CommScope by 14.5% during the 3rd quarter. Boston Partners now owns 7,415,777 shares of the communications equipment supplier valued at $ 100,457,000 after purchasing an additional 937,547 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in CommScope by 31.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,984,947 shares of the communications equipment supplier valued at $ 67,745,000 after purchasing an additional 1,179,689 shares in the last quarter. Hedge funds and other institutional investors hold 90.72% of the company’s shares.

CommScope Company Profile

CommScope Holding Co, Inc is committed to providing infrastructure solutions for communication networks. It operates through the following segments: broadband; Home; Outdoor wireless networks (OWN); and site and campus networks (VCNs). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, North Carolina.

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