CommScope (NASDAQ:COMM) Shares Gap Down – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM) shares gapped down before the market opened on Monday . The stock had previously closed at $5.27, but opened at $5.00. CommScope shares last traded at $5.10, with a volume of 627,213 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on COMM. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, CommScope presently has an average rating of “Reduce” and a consensus target price of $2.50.

CommScope Stock Up 1.0 %

The firm has a 50 day moving average of $5.35 and a 200 day moving average of $4.40. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -1.17 and a beta of 1.92.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Equities analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in CommScope by 415.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after acquiring an additional 151,640 shares in the last quarter. Monarch Alternative Capital LP bought a new position in shares of CommScope in the third quarter valued at approximately $16,623,000. XTX Topco Ltd boosted its position in shares of CommScope by 263.1% during the second quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after buying an additional 143,654 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in CommScope during the second quarter worth $144,000. Finally, Point72 Asset Management L.P. purchased a new stake in CommScope in the 3rd quarter valued at $894,000. 88.04% of the stock is owned by institutional investors and hedge funds.

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.