Penserra Capital Management LLC Invests $13.84 Million in CommScope Holding Company, Inc. $COMM

Penserra Capital Management LLC purchased a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,671,762 shares of the communications equipment provider’s stock, valued at approximately $13,842,000. Penserra Capital Management LLC owned about 0.77% of CommScope at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COMM. Banque Transatlantique SA bought a new stake in shares of CommScope during the first quarter worth $34,000. Caliber Wealth Management LLC KS acquired a new stake in shares of CommScope during the 1st quarter valued at $57,000. West Michigan Advisors LLC bought a new stake in CommScope during the 2nd quarter worth $83,000. National Bank of Canada FI increased its holdings in CommScope by 1,783.8% in the 1st quarter. National Bank of Canada FI now owns 16,182 shares of the communications equipment provider’s stock worth $86,000 after purchasing an additional 15,323 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in CommScope in the 1st quarter worth about $88,000. Institutional investors own 88.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Citigroup raised shares of CommScope to an “outperform” rating in a report on Monday, August 4th. Northland Capmk raised shares of CommScope from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Morgan Stanley upgraded shares of CommScope from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, CommScope presently has an average rating of “Moderate Buy” and a consensus target price of $15.58.

CommScope Stock Performance

CommScope stock opened at $16.65 on Friday. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 5.08, a PEG ratio of 0.45 and a beta of 2.43. CommScope Holding Company, Inc. has a 52-week low of $2.94 and a 52-week high of $17.93. The firm has a 50 day moving average price of $15.94 and a two-hundred day moving average price of $11.03.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.37 billion. CommScope had a net margin of 17.57% and a negative return on equity of 13.70%. CommScope’s quarterly revenue was up 50.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) earnings per share. As a group, equities research analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

CommScope 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.