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

CommScope Holding Company, Inc. (NASDAQ:COMM) saw some unusual options trading activity on Monday. Investors purchased 20,140 call options on the stock. This is an increase of 1,910% compared to the typical daily volume of 1,002 call options.

CommScope Stock Performance

Shares of NASDAQ COMM opened at $1.16 on Wednesday. The company has a market capitalization of $246.24 million, a P/E ratio of -0.13 and a beta of 2.06. CommScope has a 52-week low of $0.86 and a 52-week high of $6.65. The company’s 50 day moving average price is $1.20 and its 200-day moving average price is $1.70.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.04 billion. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. Analysts forecast that CommScope will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on COMM shares. Northland Securities reaffirmed a “market perform” rating on shares of CommScope in a report on Friday, March 1st. Bank of America cut their target price 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. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, CommScope has an average rating of “Hold” and a consensus target price of $4.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of CommScope during the 1st quarter valued at $106,000. Jacobs Levy Equity Management Inc. lifted its position in shares of CommScope by 10.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock valued at $6,128,000 after acquiring an additional 461,264 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of CommScope by 15.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock valued at $248,000 after acquiring an additional 24,523 shares during the period. Russell Investments Group Ltd. lifted its position in shares of CommScope by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 483,056 shares of the communications equipment provider’s stock valued at $633,000 after acquiring an additional 92,657 shares during the period. Finally, Headlands Technologies LLC lifted its position in shares of CommScope by 357.9% during the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 18,722 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

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.