CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,421,300 shares of the communications equipment provider’s stock after purchasing an additional 421,000 shares during the quarter. Renaissance Technologies LLC’s holdings in CommScope were worth $23,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of COMM. Aster Capital Management DIFC Ltd purchased a new stake in shares of CommScope during the fourth quarter valued at $27,000. National Bank of Canada FI lifted its position in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 2,857 shares during the period. Sciencast Management LP purchased a new stake in CommScope during the 4th quarter valued at about $56,000. Ballentine Partners LLC acquired a new position in shares of CommScope in the fourth quarter valued at about $58,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of CommScope in the fourth quarter worth about $60,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COMM shares. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 target price on shares of CommScope in a report on Thursday, February 27th. StockNews.com raised CommScope from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CommScope presently has a consensus rating of “Hold” and a consensus price target of $4.75.

CommScope Stock Down 2.3 %

Shares of CommScope stock opened at $3.36 on Friday. The firm has a market cap of $727.64 million, a PE ratio of -0.76, a P/E/G ratio of 0.41 and a beta of 1.98. CommScope Holding Company, Inc. has a twelve month low of $0.86 and a twelve month high of $7.19. The business has a 50-day moving average price of $5.05 and a 200 day moving average price of $5.35.

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.