Traynor Capital Management Inc. Has $73,000 Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Traynor Capital Management Inc. decreased its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 12.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,000 shares of the communications equipment provider’s stock after selling 2,000 shares during the quarter. Traynor Capital Management Inc.’s holdings in CommScope were worth $73,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new position in CommScope during the third quarter worth $31,000. National Bank of Canada FI grew its holdings 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. Quarry LP raised its position in shares of CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 7,380 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of CommScope in the 4th quarter worth about $58,000. Finally, Belvedere Trading LLC acquired a new position in shares of CommScope in the 3rd quarter valued at about $68,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Stock Performance

Shares of NASDAQ:COMM opened at $5.86 on Friday. CommScope Holding Company, Inc. has a 52-week low of $0.86 and a 52-week high of $7.19. The business’s 50 day simple moving average is $5.23 and its two-hundred day simple moving average is $4.70. The firm has a market cap of $1.27 billion, a P/E ratio of -1.33, a PEG ratio of 0.64 and a beta of 1.92.

CommScope (NASDAQ:COMM) last issued 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 firm had revenue of $1.08 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, equities analysts forecast that CommScope Holding Company, Inc. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Tuesday, December 17th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Finally, 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 report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.00.

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.