CommScope Sees Unusually Large Options Volume (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of unusually large options trading on Monday. Stock investors acquired 15,030 put options on the company. This is an increase of approximately 608% compared to the typical daily volume of 2,124 put options.

Hedge Funds Weigh In On CommScope

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in CommScope by 3.1% in the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after purchasing an additional 155,166 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after buying an additional 840,742 shares during the last quarter. State Street Corp grew its stake in shares of 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 in the last quarter. Two Sigma Advisers LP grew 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 acquired a new position in CommScope in the third quarter worth approximately $16,623,000. 88.04% of the stock is owned by institutional investors and hedge funds.

CommScope Trading Up 2.3 %

NASDAQ:COMM traded up $0.12 on Monday, hitting $5.39. 2,448,580 shares of the company’s stock traded hands, compared to its average volume of 2,408,267. The company has a market cap of $1.16 billion, a PE ratio of -1.22 and a beta of 1.92. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The firm has a 50-day moving average price of $5.41 and a 200-day moving average price of $4.35.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts forecast that CommScope will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on COMM. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research note on Tuesday, December 17th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target 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.