Short Interest in CommScope Holding Company, Inc. (NASDAQ:COMM) Grows By 10.5%

CommScope Holding Company, Inc. (NASDAQ:COMM) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 9,540,000 shares, a growth of 10.5% from the December 15th total of 8,630,000 shares. Based on an average daily volume of 4,260,000 shares, the days-to-cover ratio is currently 2.2 days.

CommScope Stock Performance

NASDAQ:COMM traded down $0.04 on Monday, reaching $5.36. The company’s stock had a trading volume of 2,676,848 shares, compared to its average volume of 3,716,963. The firm has a market cap of $1.16 billion, a PE ratio of -1.21, a PEG ratio of 0.57 and a beta of 1.92. The business’s 50-day moving average price is $5.17 and its two-hundred day moving average price is $4.63. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts expect that CommScope will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COMM. Inspire Investing LLC grew its stake in shares of CommScope by 15.0% during the 4th quarter. Inspire Investing LLC now owns 77,276 shares of the communications equipment provider’s stock worth $403,000 after acquiring an additional 10,089 shares in the last quarter. SG Americas Securities LLC increased its stake in CommScope by 130.6% in the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock valued at $238,000 after buying an additional 25,855 shares during the last quarter. Ballentine Partners LLC bought a new stake in CommScope during the 4th quarter worth about $58,000. Diversified Trust Co boosted its stake in shares of CommScope by 11.1% during the 4th quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after buying an additional 4,827 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of CommScope by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after acquiring an additional 542,794 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COMM shares. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Tuesday, January 14th. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Tuesday, December 17th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

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.