Traders Purchase Large Volume of CommScope Put Options (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of some unusual options trading on Wednesday. Stock investors bought 35,994 put options on the stock. This represents an increase of 1,202% compared to the average volume of 2,765 put options.

Wall Street Analysts Forecast Growth

COMM has been the topic of several recent analyst reports. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Tuesday, January 14th. Finally, Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Hedge Funds Weigh In On CommScope

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in CommScope in the 4th quarter worth $27,000. National Bank of Canada FI raised its holdings in CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the period. Sterling Capital Management LLC raised its holdings in CommScope by 826.0% in the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 6,030 shares during the period. Quarry LP raised its holdings in CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 4,026 shares during the period. 88.04% of the stock is owned by institutional investors.

CommScope Price Performance

COMM stock opened at $6.17 on Thursday. The company has a market cap of $1.33 billion, a P/E ratio of -1.40, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The stock’s fifty day moving average price is $5.26 and its 200-day moving average price is $5.26.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Wednesday, February 26th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. As a group, analysts expect that CommScope will post -0.24 earnings per share for the current year.

CommScope Company Profile

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.