CommScope Holding Company, Inc. (NASDAQ:COMM) short interest fell 14.6% in July

CommScope Holding Company, Inc. (NASDAQ:COMM – Get Free Report ) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 9,630,000 shares, a decrease of 14.6% from the July 15th total of 11,270,000 shares. Currently, 4.7% of the company’s shares are short sold. Based on an average daily volume of 5,290,000 shares, the days-to-cover ratio is currently 1.8 days.

Analysts set new price targets

COMM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Northland Securities boosted their price target on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $1.75, according to MarketBeat.com.

Read the latest stock report on CommScope

CommScope Price Performance

COMM stock opened at $3.96 on Monday. The stock’s fifty-day simple moving average is $1.80, and its 200-day simple moving average is $1.54. CommScope has a one year low of $0.86 and a one year high of $4.03. The firm has a market cap of $840.62 million, a price-to-earnings ratio of -0.45, a P/E/G ratio of 1.91 and a beta of 2.08.

CommScope (NASDAQ:COMM – Get Your Free Report ) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted EPS of $0.14. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, research analysts anticipate that CommScope will post 0.11 earnings per share for the current year.

Institutional inputs and outputs

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in CommScope by 42.7% during the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock worth $36,862,000 after buying an additional 3,911,673 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CommScope by 28.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock worth $16,330,000 after purchasing an additional 1,280,636 shares in the last quarter. Millennium Management LLC raised its stake in shares of CommScope by 19.9% ​​in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after acquiring an additional 840,742 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $6,128,000 after buying an additional 461,264 shares in the last quarter. Finally, Marathon Asset Management LP grew its position in 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 purchasing an additional 750,000 shares during the last quarter. 88.04% of shares are owned by institutional investors and hedge funds.

CommScope Company Profile

(Get a free report)

CommScope Holding Company, Inc provides infrastructure solutions for communications, data centers and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (PROPRIETARY); Networking, Intelligent Cellular and Security Solutions (NICS) and Access Network Solutions (ANS) segments.

Further reading

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