Traders Purchase Large Volume of CommScope Put Options (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of some unusual options trading on Wednesday. Investors bought 35,994 put options on the stock. This represents an increase of 1,202% compared to the average volume of 2,765 put options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of CommScope by 415.0% during the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after buying an additional 151,640 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after buying an additional 542,794 shares during the last quarter. Monarch Alternative Capital LP bought a new position in shares of CommScope during the third quarter valued at approximately $16,623,000. Point72 Asset Management L.P. bought a new position in shares of CommScope during the third quarter valued at approximately $894,000. Finally, State Street Corp grew its stake in shares of CommScope by 9.2% during the third 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 last quarter. Institutional investors own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COMM. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Tuesday, January 14th. Finally, Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

CommScope Trading Up 26.2 %

NASDAQ:COMM opened at $6.17 on Thursday. The company has a market capitalization of $1.33 billion, a P/E ratio of -1.40, a P/E/G ratio of 0.41 and a beta of 1.90. CommScope has a 12 month low of $0.86 and a 12 month high of $7.19. The business’s 50-day moving average is $5.26 and its 200 day moving average is $5.26.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Wednesday, February 26th. The communications equipment provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. On average, research analysts forecast that CommScope will post -0.24 earnings per share for the current year.

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.