CommScope Sees Unusually Large Options Volume (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 5,789 call options on the stock. This represents an increase of 78% compared to the typical volume of 3,248 call options.

CommScope Price Performance

NASDAQ COMM traded up $0.17 during trading hours on Thursday, reaching $6.34. The company’s stock had a trading volume of 4,360,180 shares, compared to its average volume of 4,387,498. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The stock has a market cap of $1.37 billion, a P/E ratio of -1.43, a P/E/G ratio of 0.41 and a beta of 1.90. The firm has a fifty day simple moving average of $5.26 and a 200-day simple moving average of $5.26.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Tuesday, January 14th. Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 target price on shares of CommScope in a report on Thursday. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.00.

Hedge Funds Weigh In On CommScope

A number of hedge funds have recently modified their holdings of COMM. National Bank of Canada FI grew its position in shares of 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 valued at $33,000 after buying an additional 2,857 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 4,026 shares during the last quarter. Bayesian Capital Management LP increased its position in CommScope by 25.6% during the 4th quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider’s stock valued at $115,000 after purchasing an additional 4,500 shares during the period. Diversified Trust Co raised its holdings in CommScope by 11.1% during the 4th quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after purchasing an additional 4,827 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of CommScope in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

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.