Short Interest in CommScope Holding Company, Inc. (NASDAQ:COMM) Expands By 26.9%

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 14,050,000 shares, a growth of 26.9% from the March 15th total of 11,070,000 shares. Based on an average trading volume of 5,430,000 shares, the short-interest ratio is presently 2.6 days. Approximately 6.7% of the shares of the company are short sold.

Analyst Ratings Changes

COMM has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Tuesday, January 14th. StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target on shares of CommScope in a research report on Thursday, February 27th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.75.

CommScope Stock Performance

Shares of COMM opened at $3.02 on Tuesday. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The firm has a market capitalization of $654.01 million, a P/E ratio of -0.68, a P/E/G ratio of 0.41 and a beta of 1.98. The company has a 50-day simple moving average of $4.85 and a 200-day simple moving average of $5.23.

Institutional Trading of CommScope

A number of hedge funds have recently modified their holdings of COMM. Vanguard Group Inc. raised its stake in shares of CommScope by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock valued at $118,542,000 after purchasing an additional 694,363 shares in the last quarter. Deutsche Bank AG raised its stake in shares of CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock valued at $48,396,000 after buying an additional 5,996,931 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CommScope by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock worth $26,715,000 after acquiring an additional 14,576 shares during the period. State Street Corp boosted its position in shares of CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after acquiring an additional 387,466 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in CommScope by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock valued at $23,035,000 after acquiring an additional 421,000 shares during the period. Institutional investors own 88.04% of the company’s stock.

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.