Penserra Capital Management LLC Has $9.61 Million Stock Position in CommScope Holding Company, Inc. $COMM

Penserra Capital Management LLC reduced its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 62.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 620,615 shares of the communications equipment provider’s stock after selling 1,051,147 shares during the period. Penserra Capital Management LLC’s holdings in CommScope were worth $9,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COMM. Goldman Sachs Group Inc. raised its stake in CommScope by 244.8% during the first quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock worth $50,437,000 after acquiring an additional 6,743,929 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of CommScope by 187.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,536,131 shares of the communications equipment provider’s stock valued at $70,219,000 after purchasing an additional 2,957,053 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of CommScope during the 3rd quarter valued at approximately $40,417,000. Allspring Global Investments Holdings LLC increased its position in CommScope by 3,577.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,204,849 shares of the communications equipment provider’s stock worth $35,256,000 after purchasing an additional 2,144,901 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in CommScope during the 2nd quarter worth approximately $6,733,000. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Up 1.9%

Shares of CommScope stock opened at $19.41 on Thursday. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 5.92, a P/E/G ratio of 0.85 and a beta of 2.39. CommScope Holding Company, Inc. has a twelve month low of $2.94 and a twelve month high of $20.55. The company’s fifty day moving average is $18.98 and its 200 day moving average is $16.52.

Analysts Set New Price Targets

A number of brokerages have weighed in on COMM. Zacks Research lowered shares of CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Bank of America increased their price target on CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of CommScope in a research report on Wednesday, October 8th. Finally, Northland Securities set a $25.00 target price on CommScope in a research report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, CommScope presently has a consensus rating of “Hold” and a consensus price target of $18.40.

CommScope Company 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.