Invesco Ltd. Has $16.29 Million Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Invesco Ltd. lifted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 117.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 764,369 shares of the communications equipment provider’s stock after buying an additional 413,171 shares during the period. Invesco Ltd. owned about 0.37% of CommScope worth $16,288,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Metropolitan Life Insurance Co NY increased its holdings in shares of CommScope by 1,389,700.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 13,898 shares of the communications equipment provider’s stock worth $296,000 after buying an additional 13,897 shares in the last quarter. Manatuck Hill Partners LLC grew its stake in shares of CommScope by 179.5% in the second quarter. Manatuck Hill Partners LLC now owns 111,800 shares of the communications equipment provider’s stock worth $2,382,000 after purchasing an additional 71,800 shares during the last quarter. Newbrook Capital Advisors LP bought a new stake in shares of CommScope in the second quarter worth $38,916,000. Price T Rowe Associates Inc. MD grew its stake in shares of CommScope by 9.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 84,263 shares of the communications equipment provider’s stock worth $1,796,000 after purchasing an additional 7,087 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in shares of CommScope in the second quarter worth $9,473,000. Institutional investors own 90.72% of the company’s stock.

COMM stock opened at $10.79 on Thursday. The stock has a market capitalization of $2.21 billion, a PE ratio of -5.40, a price-to-earnings-growth ratio of 0.58 and a beta of 1.70. The company’s 50-day moving average is $11.76 and its 200-day moving average is $16.34. The company has a debt-to-equity ratio of 137.66, a current ratio of 1.65 and a quick ratio of 1.05. CommScope Holding Company, Inc. has a 1 year low of $9.25 and a 1 year high of $22.18.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 4th. The communications equipment provider reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.21 billion. CommScope had a positive return on equity of 269.72% and a negative net margin of 4.14%. CommScope’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. On average, analysts anticipate that CommScope Holding Company, Inc. will post 1.02 earnings per share for the current fiscal year.

Several analysts recently weighed in on COMM shares. Zacks Investment Research cut shares of CommScope from a “hold” rating to a “strong sell” rating and set a $8.50 price objective on the stock. in a research note on Monday, November 15th. Bank of America cut shares of CommScope from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $15.00 in a research note on Thursday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of CommScope from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, November 9th. Finally, Credit Suisse Group cut their price target on shares of CommScope from $12.00 to $9.20 and set a “neutral” rating on the stock in a research report on Friday, November 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.25.

In other CommScope news, CFO Kyle David Lorentzen bought 25,000 shares of the stock in a transaction that occurred on Thursday, November 18th. The shares were bought at an average price of $9.80 per share, for a total transaction of $245,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Justin C. Choi acquired 15,384 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was purchased at an average price of $9.75 per share, with a total value of $149,994.00. The disclosure for this purchase can be found here. Insiders have bought a total of 105,384 shares of company stock worth $1,032,444 in the last three months. Insiders own 2.70% of the company’s stock.

CommScope Company Profile

CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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