CommScope (NASDAQ:COMM) Shares Gap Down – Time to Sell?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) gapped down prior to trading on Monday . The stock had previously closed at $5.27, but opened at $5.00. CommScope shares last traded at $5.10, with a volume of 627,213 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on COMM. Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a report on Monday. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $2.50.

CommScope Stock Performance

The company’s 50 day moving average price is $5.35 and its 200-day moving average price is $4.40. The company has a market cap of $1.12 billion, a PE ratio of -1.17 and a beta of 1.92.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Equities research analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Institutional Trading of CommScope

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in CommScope by 415.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after buying an additional 151,640 shares in the last quarter. Monarch Alternative Capital LP purchased a new position in shares of CommScope in the third quarter valued at $16,623,000. XTX Topco Ltd raised its stake in shares of CommScope by 263.1% during the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after purchasing an additional 143,654 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of CommScope during the 2nd quarter valued at $144,000. Finally, Point72 Asset Management L.P. purchased a new stake in CommScope during the 3rd quarter worth about $894,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.