Lyrical Asset Management LP Has $123.60 Million Stock Holdings in CommScope Holding Company, Inc. (NASDAQ:COMM)

Lyrical Asset Management LP boosted its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,224,188 shares of the communications equipment provider’s stock after acquiring an additional 504,149 shares during the period. CommScope comprises approximately 1.7% of Lyrical Asset Management LP’s holdings, making the stock its 29th largest position. Lyrical Asset Management LP’s holdings in CommScope were worth $123,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Levin Capital Strategies L.P. raised its holdings in CommScope by 4.0% during the third quarter. Levin Capital Strategies L.P. now owns 25,995 shares of the communications equipment provider’s stock worth $234,000 after buying an additional 995 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of CommScope by 1.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 72,044 shares of the communications equipment provider’s stock valued at $965,000 after purchasing an additional 1,170 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of CommScope by 8.4% in the third quarter. SG Americas Securities LLC now owns 17,691 shares of the communications equipment provider’s stock valued at $159,000 after purchasing an additional 1,372 shares during the last quarter. Formidable Asset Management LLC raised its holdings in shares of CommScope by 6.3% in the third quarter. Formidable Asset Management LLC now owns 35,454 shares of the communications equipment provider’s stock valued at $323,000 after purchasing an additional 2,099 shares during the last quarter. Finally, Lapides Asset Management LLC raised its holdings in shares of CommScope by 0.9% in the fourth quarter. Lapides Asset Management LLC now owns 322,100 shares of the communications equipment provider’s stock valued at $4,316,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

In other CommScope news, Director Frank M. Drendel sold 404,089 shares of the stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $13.04, for a total transaction of $5,269,320.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by company insiders.

Several analysts have recently commented on COMM shares. Credit Suisse Group increased their target price on shares of CommScope from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Smith Barney Citigroup downgraded shares of CommScope from a “neutral” rating to a “sell” rating in a report on Monday, December 21st. Rosenblatt Securities increased their target price on shares of CommScope from $11.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CommScope from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, February 18th. Finally, JPMorgan Chase & Co. upgraded shares of CommScope from a “neutral” rating to an “overweight” rating and increased their price target for the company from $12.00 to $18.00 in a research report on Friday, December 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.27.

NASDAQ:COMM traded down $0.10 on Tuesday, reaching $13.70. 52,492 shares of the company’s stock were exchanged, compared to its average volume of 2,276,598. The company has a debt-to-equity ratio of 37.74, a current ratio of 1.66 and a quick ratio of 1.12. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -2.47, a P/E/G ratio of 6.34 and a beta of 1.86. CommScope Holding Company, Inc. has a 52 week low of $5.50 and a 52 week high of $16.04. The stock has a fifty day simple moving average of $14.70 and a 200-day simple moving average of $11.70.

CommScope (NASDAQ:COMM) last issued its earnings results on Tuesday, February 16th. The communications equipment provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.22. CommScope had a negative net margin of 12.02% and a positive return on equity of 51.48%. As a group, sell-side analysts predict that CommScope Holding Company, Inc. will post 1.08 EPS for the current year.

CommScope Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks worldwide. The company's Connectivity segment offers fiber optic, copper cable, and connectivity solutions for use in data centers, business enterprises, telecommunications, cable television, and residential broadband networks.

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Institutional Ownership by Quarter for CommScope (NASDAQ:COMM)

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