Traders Buy Large Volume of Call Options on Commscope (COMM)

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Commscope Holding Company Inc (NASDAQ:COMM) was the target of some unusual options trading on Thursday. Investors bought 2,224 call options on the stock. This represents an increase of 3,219% compared to the average volume of 67 call options.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Commscope by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,641,277 shares of the communications equipment provider’s stock worth $327,324,000 after acquiring an additional 303,348 shares in the last quarter. BlackRock Inc. grew its position in shares of Commscope by 9.4% in the 2nd quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock worth $300,874,000 after acquiring an additional 884,773 shares in the last quarter. Blue Harbour Group L.P. grew its position in shares of Commscope by 23.3% in the 2nd quarter. Blue Harbour Group L.P. now owns 9,538,090 shares of the communications equipment provider’s stock worth $278,560,000 after acquiring an additional 1,800,000 shares in the last quarter. FMR LLC grew its position in shares of Commscope by 14.2% in the 2nd quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock worth $275,208,000 after acquiring an additional 1,168,575 shares in the last quarter. Finally, Makaira Partners LLC grew its position in shares of Commscope by 33.0% in the 2nd quarter. Makaira Partners LLC now owns 1,821,309 shares of the communications equipment provider’s stock worth $53,191,000 after acquiring an additional 451,611 shares in the last quarter.

COMM stock opened at $19.56 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.16 and a debt-to-equity ratio of 2.57. Commscope has a 52-week low of $18.52 and a 52-week high of $41.60. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). Commscope had a return on equity of 24.14% and a net margin of 4.43%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Commscope’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Commscope will post 2.23 EPS for the current fiscal year.

COMM has been the topic of several analyst reports. BidaskClub downgraded Commscope from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 17th. Credit Suisse Group set a $31.00 target price on Commscope and gave the company a “hold” rating in a report on Wednesday, July 18th. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Northland Securities set a $36.00 price objective on Commscope and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Rosenblatt Securities restated a “hold” rating and set a $32.00 price objective on shares of Commscope in a report on Sunday, August 5th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Commscope has an average rating of “Hold” and an average price target of $34.88.

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Commscope Company Profile

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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