Is Commscope Holding Company Inc (COMM) A Good Stock To Buy?

As industry-wide interest jumped, key hedge funds were breaking ground themselves. Glenhill Advisors, managed by Glenn J. Krevlin, established the most outsized position in Commscope Holding Company Inc (NASDAQ:COMM). Glenhill Advisors had $20.6 million invested in the company at the end of the quarter. Eric Bannasch’s Cadian Capital also initiated a $19.1 million position during the quarter. The other funds with brand new COMM positions are Ricky Sandler’s Eminence Capital, Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners, and Daniel S. Och’s OZ Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Commscope Holding Company Inc (NASDAQ:COMM) but similarly valued. We will take a look at Owens Corning (NYSE:OC), Sensata Technologies Holding N.V. (NYSE:ST), Macquarie Infrastructure Company LLC (NYSE:MIC), and United Rentals, Inc. (NYSE:URI). All of these stocks’ market caps are closest to COMM’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OC 35 1197532 1
ST 27 1392748 -1
MIC 45 1058126 -2
URI 43 539688 6

As you can see these stocks had an average of 37.5 hedge funds with bullish positions and the average amount invested in these stocks was $1.05 billion. That figure was $2.89 billion in COMM’s case. Macquarie Infrastructure Company LLC (NYSE:MIC) is the most popular stock in this table. On the other hand Sensata Technologies Holding N.V. (NYSE:ST) is the least popular one with only 27 bullish hedge fund positions. Compared to these stocks Commscope Holding Company Inc (NASDAQ:COMM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and that more and more hedge funds are becoming shareholders of it, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None