CommScope (NASDAQ:COMM) Stock Price Down 6.1% – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM) traded down 6.1% on Wednesday . The stock traded as low as $5.81 and last traded at $5.78. 1,853,067 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 4,563,761 shares. The stock had previously closed at $6.15.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 target price on shares of CommScope in a report on Thursday, February 27th. StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.00.

CommScope Price Performance

The stock’s 50 day simple moving average is $5.31 and its two-hundred day simple moving average is $5.36. The stock has a market capitalization of $1.15 billion, a PE ratio of -1.20, a PEG ratio of 0.41 and a beta of 1.90.

Institutional Trading of CommScope

A number of large investors have recently bought and sold shares of COMM. Aster Capital Management DIFC Ltd bought a new position in shares of CommScope during the 4th quarter worth $27,000. National Bank of Canada FI boosted its position in CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the period. Sterling Capital Management LLC increased its stake in shares of CommScope by 826.0% in the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 6,030 shares in the last quarter. Quarry LP lifted its stake in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 7,380 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 4,026 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.