CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Purchased by Quarry LP

Quarry LP boosted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 1,005.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,114 shares of the communications equipment provider’s stock after acquiring an additional 7,380 shares during the quarter. Quarry LP’s holdings in CommScope were worth $50,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COMM. Point72 Asset Management L.P. acquired a new stake in CommScope during the third quarter valued at approximately $894,000. Parallax Volatility Advisers L.P. increased its holdings in shares of CommScope by 117.3% in the third quarter. Parallax Volatility Advisers L.P. now owns 55,443 shares of the communications equipment provider’s stock valued at $339,000 after buying an additional 29,929 shares in the last quarter. Centiva Capital LP lifted its position in shares of CommScope by 88.6% during the 3rd quarter. Centiva Capital LP now owns 60,053 shares of the communications equipment provider’s stock valued at $367,000 after acquiring an additional 28,204 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of CommScope during the 3rd quarter worth $214,000. Finally, Monarch Alternative Capital LP acquired a new position in shares of CommScope in the 3rd quarter worth $16,623,000. Institutional investors own 88.04% of the company’s stock.

CommScope Price Performance

NASDAQ COMM opened at $5.54 on Wednesday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -1.25 and a beta of 1.96. The company has a 50 day simple moving average of $5.57 and a 200-day simple moving average of $3.79. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley upped their price objective 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 upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, CommScope currently has a consensus rating of “Hold” and an average price target of $2.50.

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.