HighTower Advisors LLC Sells 303,070 Shares of CommScope Holding Company, Inc. $COMM

HighTower Advisors LLC cut its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,676,694 shares of the communications equipment provider’s stock after selling 303,070 shares during the quarter. HighTower Advisors LLC’s holdings in CommScope were worth $41,435,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COMM. AQR Capital Management LLC grew its holdings in CommScope by 1,029.9% in the first quarter. AQR Capital Management LLC now owns 360,577 shares of the communications equipment provider’s stock worth $1,877,000 after purchasing an additional 328,664 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CommScope by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,503 shares of the communications equipment provider’s stock worth $682,000 after purchasing an additional 7,149 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of CommScope by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 63,433 shares of the communications equipment provider’s stock worth $337,000 after buying an additional 4,669 shares during the last quarter. Goldman Sachs Group Inc. increased its position in CommScope by 244.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock valued at $50,437,000 after buying an additional 6,743,929 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CommScope by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 520,677 shares of the communications equipment provider’s stock valued at $2,765,000 after buying an additional 39,064 shares during the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Stock Performance

COMM opened at $19.41 on Wednesday. The company’s 50-day simple moving average is $18.97 and its two-hundred day simple moving average is $17.30. The stock has a market capitalization of $4.30 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.85 and a beta of 2.39. CommScope Holding Company, Inc. has a 52-week low of $2.94 and a 52-week high of $20.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COMM shares. Bank of America raised their price target on CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a report on Tuesday, November 11th. Northland Securities set a $25.00 price objective on shares of CommScope in a research note on Friday, October 31st. Finally, Zacks Research downgraded shares of CommScope from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.40.

CommScope Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.