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

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of some unusual options trading activity on Monday. Traders purchased 15,030 put options on the company. This is an increase of 608% compared to the average daily volume of 2,124 put options.

Institutional Investors Weigh In On CommScope

Several hedge funds and other institutional investors have recently bought and sold shares of COMM. Geode Capital Management LLC grew its stake in shares of CommScope by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock worth $31,239,000 after purchasing an additional 155,166 shares during the last quarter. Millennium Management LLC boosted its holdings in CommScope by 19.9% during the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after buying an additional 840,742 shares in the last quarter. State Street Corp grew its position in CommScope by 9.2% in the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after buying an additional 387,466 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after buying an additional 975,200 shares in the last quarter. Finally, Monarch Alternative Capital LP acquired a new stake in shares of CommScope during the 3rd quarter valued at $16,623,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Price Performance

Shares of CommScope stock traded up $0.12 on Monday, hitting $5.39. The company had a trading volume of 2,448,580 shares, compared to its average volume of 2,408,267. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The company has a market cap of $1.16 billion, a PE ratio of -1.22 and a beta of 1.92. The business has a 50-day simple moving average of $5.41 and a 200-day simple moving average of $4.35.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that CommScope will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COMM has been the topic of a number of recent analyst reports. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a report on Monday. 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. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $2.50.

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.