Russell Investments Group Ltd. Acquires 246,937 Shares of CommScope Holding Company, Inc. $COMM

Russell Investments Group Ltd. increased its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 278.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 335,551 shares of the communications equipment provider’s stock after buying an additional 246,937 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of CommScope worth $2,778,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new position in CommScope in the first quarter valued at about $34,000. West Michigan Advisors LLC purchased a new position in CommScope in the second quarter valued at approximately $83,000. National Bank of Canada FI grew its holdings in CommScope by 1,783.8% during the first quarter. National Bank of Canada FI now owns 16,182 shares of the communications equipment provider’s stock valued at $86,000 after purchasing an additional 15,323 shares during the period. American Century Companies Inc. purchased a new stake in CommScope in the first quarter worth $91,000. Finally, CWM LLC increased its holdings in CommScope by 236.5% in the 2nd quarter. CWM LLC now owns 11,156 shares of the communications equipment provider’s stock worth $92,000 after acquiring an additional 7,841 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Trading Up 3.0%

Shares of COMM opened at $19.75 on Tuesday. CommScope Holding Company, Inc. has a 12-month low of $2.94 and a 12-month high of $20.10. The company has a market cap of $4.38 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 0.92 and a beta of 2.38. The stock has a 50-day moving average price of $16.80 and a 200-day moving average price of $13.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COMM shares. Wall Street Zen upgraded shares of CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Northland Securities set a $25.00 price objective on shares of CommScope in a research note on Friday, October 31st. Zacks Research upgraded CommScope from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Bank of America raised their price target on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.17.

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.