Hsbc Holdings PLC Sells 41,233 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Hsbc Holdings PLC lessened its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 63.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,670 shares of the communications equipment provider’s stock after selling 41,233 shares during the period. Hsbc Holdings PLC’s holdings in CommScope were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of COMM. Headlands Technologies LLC raised its holdings in CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 18,722 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 25,212 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CommScope in the fourth quarter worth approximately $198,000. Fore Capital LLC lifted its holdings in shares of CommScope by 36.5% in the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock valued at $92,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Stoneridge Investment Partners LLC boosted its position in shares of CommScope by 69.4% during the second quarter. Stoneridge Investment Partners LLC now owns 80,441 shares of the communications equipment provider’s stock valued at $99,000 after buying an additional 32,948 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COMM. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, 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. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1.75.

CommScope Stock Performance

COMM opened at $6.16 on Monday. CommScope Holding Company, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $6.75. The firm has a 50-day moving average of $4.38 and a 200 day moving average of $2.36. The firm has a market cap of $1.31 billion, a P/E ratio of -0.70, a PEG ratio of 0.28 and a beta of 2.10.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities research analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

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.