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

CommScope Holding Company, Inc. (NASDAQ:COMM) saw unusually large options trading activity on Monday. Investors bought 15,030 put options on the stock. This represents an increase of approximately 608% compared to the average volume of 2,124 put options.

CommScope Stock Down 3.9 %

Shares of NASDAQ:COMM opened at $5.13 on Wednesday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -1.16 and a beta of 1.92. The business has a 50 day moving average price of $5.35 and a 200 day moving average price of $4.40. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COMM shares. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a report on Monday. Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, CommScope currently has an average rating of “Reduce” and an average target price of $2.50.

Hedge Funds Weigh In On CommScope

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of CommScope by 3.1% during 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 in the last quarter. Millennium Management LLC boosted its stake 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 increased its holdings in CommScope by 9.2% in the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after buying an additional 387,466 shares during the period. Two Sigma Advisers LP raised its stake in shares of CommScope by 29.3% in the 3rd 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 bought a new position in shares of CommScope during the 3rd quarter worth about $16,623,000. 88.04% of the stock is currently owned by institutional investors.

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.