Aigen Investment Management LP Makes New $352,000 Investment in CommScope Holding Company, Inc. (NASDAQ:COMM)

Aigen Investment Management LP acquired a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 57,636 shares of the communications equipment provider’s stock, valued at approximately $352,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after purchasing an additional 840,742 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of CommScope by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock worth $6,128,000 after acquiring an additional 461,264 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of CommScope in the third quarter worth $11,023,000. Marathon Asset Management LP grew its stake in shares of CommScope by 75.0% in the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after acquiring an additional 750,000 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of CommScope by 319.3% in the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after acquiring an additional 953,171 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

Shares of NASDAQ:COMM opened at $4.15 on Friday. The stock has a market capitalization of $895.90 million, a price-to-earnings ratio of -0.96, a PEG ratio of 0.20 and a beta of 2.09. The stock’s 50-day simple moving average is $5.85 and its two-hundred day simple moving average is $3.31. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19.

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

Analyst Upgrades and Downgrades

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

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.