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

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) saw unusually large options trading on Monday. Investors purchased 15,030 put options on the stock. This is an increase of approximately 608% compared to the average volume of 2,124 put options.

CommScope Stock Performance

CommScope stock traded up $0.07 during mid-day trading on Monday, reaching $5.34. 6,523,579 shares of the company were exchanged, compared to its average volume of 4,182,776. CommScope has a 12-month low of $0.86 and a 12-month high of $7.19. The business has a fifty day moving average of $5.41 and a 200 day moving average of $4.35. The firm has a market cap of $1.15 billion, a P/E ratio of -1.21 and a beta of 1.92.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Sell-side analysts predict that CommScope will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Monarch Alternative Capital LP acquired a new stake in CommScope in the third quarter valued at approximately $16,623,000. Assenagon Asset Management S.A. acquired a new stake in shares of CommScope in the 3rd quarter worth $11,023,000. Bank of Montreal Can purchased a new position in CommScope during the 3rd quarter worth $7,023,000. Two Sigma Advisers LP increased its position in CommScope by 29.3% during 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, Acadian Asset Management LLC raised its stake in CommScope by 319.3% in the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider's stock valued at $1,537,000 after buying an additional 953,171 shares during the last quarter. Institutional investors own 88.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on COMM. Morgan Stanley lowered CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Raymond James lowered CommScope from a "market perform" rating to an "underperform" rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company 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.