Y Intercept Hong Kong Ltd Trims Stake in CommScope Holding Company, Inc. $COMM

Y Intercept Hong Kong Ltd lessened its position in CommScope Holding Company, Inc. (NASDAQ:COMM) by 90.0% in the third quarter, HoldingsChannel reports. The firm owned 17,499 shares of the communications equipment provider’s stock after selling 157,585 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CommScope were worth $271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new position in CommScope in the third quarter worth $38,000. Harbor Capital Advisors Inc. bought a new position in shares of CommScope in the 3rd quarter worth about $43,000. Wolff Wiese Magana LLC bought a new position in shares of CommScope in the 3rd quarter worth about $46,000. West Michigan Advisors LLC purchased a new position in CommScope during the 2nd quarter valued at about $83,000. Finally, Vontobel Holding Ltd. bought a new stake in CommScope during the third quarter worth about $156,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of CommScope from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Northland Securities set a $25.00 price target on CommScope in a research note on Friday, October 31st. Zacks Research cut CommScope from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Bank of America boosted their target price on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.40.

CommScope Stock Up 1.9%

Shares of NASDAQ COMM opened at $19.41 on Friday. The company has a 50 day moving average of $18.98 and a 200 day moving average of $16.54. CommScope Holding Company, Inc. has a twelve month low of $2.94 and a twelve month high of $20.55. The firm has a market cap of $4.30 billion, a P/E ratio of 5.92, a PEG ratio of 0.85 and a beta of 2.39.

CommScope Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.