Investors Purchase Large Volume of Commscope Put Options (NASDAQ:COMM)

Commscope Holding Company Inc (NASDAQ:COMM) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 1,876 put options on the stock. This represents an increase of 1,073% compared to the average volume of 160 put options.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Maverick Capital Ltd. boosted its position in Commscope by 0.6% during the fourth quarter. Maverick Capital Ltd. now owns 19,326,308 shares of the communications equipment provider’s stock worth $274,240,000 after purchasing an additional 124,000 shares during the period. Wellington Management Group LLP boosted its position in Commscope by 35.5% during the first quarter. Wellington Management Group LLP now owns 16,516,496 shares of the communications equipment provider’s stock worth $150,465,000 after purchasing an additional 4,327,365 shares during the period. JPMorgan Chase & Co. boosted its position in Commscope by 35.9% during the first quarter. JPMorgan Chase & Co. now owns 13,486,662 shares of the communications equipment provider’s stock worth $122,863,000 after purchasing an additional 3,559,836 shares during the period. First Trust Advisors LP boosted its position in Commscope by 33.8% during the first quarter. First Trust Advisors LP now owns 9,385,281 shares of the communications equipment provider’s stock worth $85,500,000 after purchasing an additional 2,373,431 shares during the period. Finally, Lyrical Asset Management LP boosted its position in Commscope by 0.8% during the first quarter. Lyrical Asset Management LP now owns 8,377,378 shares of the communications equipment provider’s stock worth $76,318,000 after purchasing an additional 64,137 shares during the period.

Shares of NASDAQ COMM traded down $0.11 during trading hours on Thursday, hitting $7.76. The stock had a trading volume of 15,280 shares, compared to its average volume of 4,327,421. The company has a market capitalization of $1.56 billion, a P/E ratio of -1.33, a P/E/G ratio of 3.64 and a beta of 1.55. The firm’s 50-day moving average price is $9.54 and its two-hundred day moving average price is $10.95. Commscope has a 52 week low of $5.50 and a 52 week high of $15.93. The company has a debt-to-equity ratio of 16.91, a quick ratio of 1.21 and a current ratio of 1.70.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 7th. The communications equipment provider reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Commscope had a positive return on equity of 32.68% and a negative net margin of 11.72%. The firm’s quarterly revenue was up 84.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, analysts expect that Commscope will post 0.81 EPS for the current fiscal year.

Several analysts have issued reports on COMM shares. Raymond James downgraded Commscope from an “outperform” rating to a “market perform” rating in a report on Tuesday. They noted that the move was a valuation call. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Rosenblatt Securities restated a “hold” rating and set a $11.00 price objective on shares of Commscope in a report on Thursday, May 7th. Nomura boosted their price objective on Commscope from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Loop Capital started coverage on Commscope in a report on Tuesday, May 5th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.61.

About Commscope

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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