Commscope Holding Company Inc (COMM) Short Interest Update
Commscope Holding Company Inc (NASDAQ:COMM) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 9,077,220 shares, an increase of 26.7% from the November 15th total of 7,161,531 shares. Currently, 4.8% of the company’s shares are sold short. Based on an average daily volume of 1,369,526 shares, the short-interest ratio is presently 6.6 days.
Commscope (NASDAQ COMM) opened at $38.77 on Wednesday. Commscope has a 52 week low of $30.95 and a 52 week high of $42.75. The stock has a market capitalization of $7,231.79, a P/E ratio of 17.55, a P/E/G ratio of 2.96 and a beta of 1.20. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 2.93.
Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Commscope had a return on equity of 29.11% and a net margin of 4.21%. Commscope’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. analysts expect that Commscope will post 2.01 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in Commscope during the third quarter worth $369,000. California Public Employees Retirement System lifted its holdings in Commscope by 3.6% during the third quarter. California Public Employees Retirement System now owns 413,216 shares of the communications equipment provider’s stock worth $13,723,000 after buying an additional 14,416 shares during the period. Makaira Partners LLC lifted its holdings in Commscope by 14.1% during the third quarter. Makaira Partners LLC now owns 2,307,447 shares of the communications equipment provider’s stock worth $76,630,000 after buying an additional 285,200 shares during the period. Janus Henderson Group PLC lifted its holdings in Commscope by 11.0% during the third quarter. Janus Henderson Group PLC now owns 3,749,954 shares of the communications equipment provider’s stock worth $124,536,000 after buying an additional 370,912 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in Commscope during the third quarter worth $27,219,000.
COMM has been the topic of a number of analyst reports. Morgan Stanley raised Commscope from an “equal weight” rating to an “overweight” rating and set a $38.00 target price on the stock in a research note on Thursday, August 17th. Citigroup upped their target price on Commscope from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Northland Securities reaffirmed a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Jefferies Group reaffirmed a “buy” rating and set a $40.00 target price on shares of Commscope in a research note on Wednesday, September 20th. Finally, Zacks Investment Research raised Commscope from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.30.
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Commscope Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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