Mill Creek Capital Advisors LLC Invests $416,000 in CommScope Holding Company, Inc. (NASDAQ:COMM)

Mill Creek Capital Advisors LLC purchased a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 68,027 shares of the communications equipment provider’s stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in CommScope in the 3rd quarter valued at approximately $31,000. Belvedere Trading LLC bought a new position in CommScope in the 3rd quarter valued at approximately $68,000. Creative Planning bought a new position in CommScope in the 3rd quarter valued at approximately $73,000. Hanseatic Management Services Inc. bought a new position in CommScope in the 3rd quarter valued at approximately $76,000. Finally, Traynor Capital Management Inc. bought a new position in CommScope in the 3rd quarter valued at approximately $98,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

COMM stock opened at $4.15 on Monday. The company has a fifty day moving average price of $5.85 and a 200-day moving average price of $3.35. The company has a market capitalization of $895.90 million, a P/E ratio of -0.94, a PEG ratio of 0.18 and a beta of 2.09. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COMM. Northland Securities increased their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Morgan Stanley raised their price target on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, CommScope has an average rating of “Hold” and a consensus price target of $2.50.

CommScope Company Profile

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.