CommScope (NASDAQ:COMM) Share Price Passes Below 200-Day Moving Average of $2.01

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.01 and traded as low as $1.00. CommScope shares last traded at $1.00, with a volume of 2,517,925 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on COMM shares. Northland Securities reissued a “market perform” rating on shares of CommScope in a report on Friday, March 1st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Bank of America decreased their price target on CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 13th. Finally, StockNews.com cut CommScope from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.27.

CommScope Stock Performance

The company has a 50-day moving average of $1.51 and a 200-day moving average of $2.00. The stock has a market capitalization of $210.14 million, a price-to-earnings ratio of -0.14 and a beta of 1.98.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). CommScope had a negative return on equity of 7.18% and a negative net margin of 21.64%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.53 billion. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.29 earnings per share for the current year.

Insider Transactions at CommScope

In other news, Director L William Krause bought 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average price of $1.59 per share, for a total transaction of $91,107.00. Following the completion of the transaction, the director now owns 227,873 shares in the company, valued at $362,318.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of CommScope

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of CommScope by 8.0% in the third quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock worth $124,578,000 after acquiring an additional 2,745,209 shares during the last quarter. Wellington Management Group LLP boosted its holdings in CommScope by 1.1% in the first quarter. Wellington Management Group LLP now owns 18,146,557 shares of the communications equipment provider’s stock valued at $142,995,000 after acquiring an additional 195,374 shares during the last quarter. BlackRock Inc. grew its position in CommScope by 6.7% during the second quarter. BlackRock Inc. now owns 16,479,026 shares of the communications equipment provider’s stock valued at $92,777,000 after acquiring an additional 1,033,406 shares during the period. First Trust Advisors LP increased its stake in CommScope by 42.7% during the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock worth $36,862,000 after acquiring an additional 3,911,673 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of CommScope by 59.1% during the 1st quarter. Bank of America Corp DE now owns 8,226,097 shares of the communications equipment provider’s stock worth $52,400,000 after purchasing an additional 3,056,141 shares during the period. 88.04% of the stock is owned by institutional investors and hedge funds.

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.