Investors Buy Large Volume of Put Options on CommScope (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of unusually large options trading on Wednesday. Stock investors purchased 35,994 put options on the company. This is an increase of 1,202% compared to the average daily volume of 2,765 put options.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Tuesday, December 17th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.00.

Institutional Trading of CommScope

Several hedge funds have recently added to or reduced their stakes in COMM. Aster Capital Management DIFC Ltd bought a new stake in CommScope during the 4th quarter worth approximately $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 in the last quarter. 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 in the last quarter. Quarry LP increased its stake in shares of 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 acquiring an additional 7,380 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 acquiring an additional 4,026 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

COMM traded up $1.00 on Wednesday, reaching $5.89. The company had a trading volume of 16,717,473 shares, compared to its average volume of 4,264,779. The company’s fifty day moving average is $5.26 and its 200 day moving average is $5.26. CommScope has a fifty-two week low of $0.86 and a fifty-two week high of $7.19. The stock has a market cap of $1.27 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.41 and a beta of 1.90.

CommScope (NASDAQ:COMM) last released its quarterly earnings data 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%. On average, sell-side analysts expect that CommScope will post -0.24 EPS for the current year.

About CommScope

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.