Bailard Inc. Buys New Stake in CommScope Holding Company, Inc. (NASDAQ:COMM)

Bailard Inc. purchased a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 95,500 shares of the communications equipment provider’s stock, valued at approximately $269,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its position in shares of CommScope by 55.3% during the fourth quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 6,949 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in CommScope by 14.6% in the 3rd quarter. New York State Common Retirement Fund now owns 73,992 shares of the communications equipment provider’s stock worth $249,000 after buying an additional 9,432 shares in the last quarter. Symphony Financial Ltd. Co. purchased a new position in CommScope in the 4th quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CommScope by 30.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,272 shares of the communications equipment provider’s stock valued at $149,000 after acquiring an additional 10,261 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of CommScope during the third quarter valued at about $40,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CommScope

In other CommScope news, Director L William Krause acquired 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $1.59 per share, with a total value of $91,107.00. Following the acquisition, the director now directly owns 227,873 shares of the company’s stock, valued at approximately $362,318.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COMM has been the topic of several recent analyst reports. Bank of America cut their price target on CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 13th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Northland Securities restated a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. Finally, StockNews.com cut CommScope from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.02.

CommScope Price Performance

Shares of COMM opened at $0.94 on Monday. CommScope Holding Company, Inc. has a 12 month low of $0.86 and a 12 month high of $6.65. The stock has a fifty day moving average price of $1.32 and a 200 day moving average price of $1.89. The company has a market cap of $198.64 million, a P/E ratio of -0.13 and a beta of 1.98.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.53 billion. CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. As a group, research analysts anticipate that CommScope Holding Company, Inc. will post -0.29 earnings per share for the current year.

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.