CommScope Sees Unusually Large Options Volume (NASDAQ:COMM)

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

CommScope Price Performance

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

CommScope (NASDAQ:COMM) last released its earnings results 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). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Equities research analysts anticipate that CommScope will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $2.50.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope during the 3rd quarter worth about $31,000. National Bank of Canada FI increased its stake in CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 2,857 shares in the last quarter. Quarry LP raised its holdings in CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the period. Belvedere Trading LLC bought a new position in shares of CommScope during the third quarter worth $68,000. Finally, Creative Planning acquired a new position in shares of CommScope in the 3rd quarter valued at $73,000. Institutional investors own 88.04% of the company’s stock.

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.