Traders Buy High Volume of CommScope Call Options (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 20,140 call options on the stock. This represents an increase of approximately 1,910% compared to the typical daily volume of 1,002 call options.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. restated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Bank of America lowered their price objective on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 13th. Northland Securities reaffirmed a “market perform” rating on shares of CommScope in a report on Friday, March 1st. Finally, StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.02.

CommScope Price Performance

Shares of NASDAQ COMM opened at $1.18 on Tuesday. The firm has a fifty day moving average price of $1.20 and a 200-day moving average price of $1.70. The stock has a market cap of $250.49 million, a PE ratio of -0.13 and a beta of 2.07. CommScope has a 1 year low of $0.86 and a 1 year high of $6.65.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.14. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.04 billion. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. On average, research analysts expect that CommScope will post -0.17 EPS for the current year.

Hedge Funds Weigh In On CommScope

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in CommScope by 28.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock valued at $16,330,000 after acquiring an additional 1,280,636 shares in the last quarter. Vanguard Group Inc. grew its stake in CommScope by 8.0% during the third quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock valued at $124,578,000 after acquiring an additional 2,745,209 shares in the last quarter. Bailard Inc. purchased a new position in CommScope during the fourth quarter valued at $269,000. Assenagon Asset Management S.A. lifted its position in CommScope by 14.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 970,716 shares of the communications equipment provider’s stock valued at $2,737,000 after purchasing an additional 124,037 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in CommScope by 217.1% during the fourth quarter. Teacher Retirement System of Texas now owns 1,561,443 shares of the communications equipment provider’s stock valued at $4,403,000 after purchasing an additional 1,068,969 shares during the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.