Y Intercept Hong Kong Ltd Sells 157,585 Shares of CommScope Holding Company, Inc. $COMM

Y Intercept Hong Kong Ltd cut its stake in CommScope Holding Company, Inc. (NASDAQ:COMM) by 90.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in CommScope by 1,029.9% in the 1st quarter. AQR Capital Management LLC now owns 360,577 shares of the communications equipment provider’s stock worth $1,877,000 after purchasing an additional 328,664 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CommScope by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,503 shares of the communications equipment provider’s stock worth $682,000 after buying an additional 7,149 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of CommScope by 7.9% in the first quarter. NewEdge Advisors LLC now owns 63,433 shares of the communications equipment provider’s stock valued at $337,000 after acquiring an additional 4,669 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of CommScope by 244.8% in the first quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock valued at $50,437,000 after acquiring an additional 6,743,929 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CommScope by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 520,677 shares of the communications equipment provider’s stock valued at $2,765,000 after acquiring an additional 39,064 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors.

CommScope Price Performance

Shares of CommScope stock opened at $19.41 on Friday. The stock has a market capitalization of $4.30 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.85 and a beta of 2.39. CommScope Holding Company, Inc. has a one year low of $2.94 and a one year high of $20.55. The business’s 50 day simple moving average is $18.98 and its two-hundred day simple moving average is $16.54.

Analysts Set New Price Targets

Several research firms have issued reports on COMM. Wall Street Zen upgraded 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 objective on CommScope in a research report on Friday, October 31st. Bank of America lifted their price objective on CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Zacks Research lowered CommScope from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.40.

About CommScope

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.