Allianz Asset Management GmbH Raises Stock Position in CommScope Holding Company, Inc. $COMM

Allianz Asset Management GmbH boosted its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 127.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,382,576 shares of the communications equipment provider’s stock after acquiring an additional 775,987 shares during the period. Allianz Asset Management GmbH owned about 0.62% of CommScope worth $21,402,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC acquired a new position in shares of CommScope during the 3rd quarter worth about $36,000. Bayforest Capital Ltd purchased a new stake in CommScope during the 3rd quarter worth approximately $38,000. Harbor Capital Advisors Inc. purchased a new stake in CommScope during the 3rd quarter worth approximately $43,000. Wolff Wiese Magana LLC acquired a new position in shares of CommScope during the third quarter valued at approximately $46,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of CommScope in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

COMM has been the subject of several research reports. Zacks Research cut CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Northland Securities set a $25.00 target price on shares of CommScope in a research note on Friday, October 31st. Bank of America upped their target price on shares of CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.40.

CommScope Trading Up 1.9%

Shares of COMM stock opened at $19.41 on Friday. CommScope Holding Company, Inc. has a twelve month low of $2.94 and a twelve month high of $20.55. The company’s 50-day moving average price is $18.97 and its 200-day moving average price is $16.62. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.85 and a beta of 2.39.

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.