Investors Buy High Volume of CommScope Call Options (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 6,411 call options on the company. This is an increase of 675% compared to the average volume of 827 call options.

Hedge Funds Weigh In On CommScope

Several institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in CommScope by 42.7% in the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock worth $36,862,000 after buying an additional 3,911,673 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CommScope by 8.0% during the third quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock worth $124,578,000 after acquiring an additional 2,745,209 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CommScope by 28.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock worth $16,330,000 after acquiring an additional 1,280,636 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of CommScope by 217.1% in the 4th quarter. Teacher Retirement System of Texas now owns 1,561,443 shares of the communications equipment provider’s stock valued at $4,403,000 after purchasing an additional 1,068,969 shares in the last quarter. Finally, Brigade Capital Management LP grew its holdings in shares of CommScope by 202.3% during the 4th quarter. Brigade Capital Management LP now owns 777,000 shares of the communications equipment provider’s stock valued at $2,191,000 after purchasing an additional 520,000 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COMM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.75.

CommScope Price Performance

Shares of NASDAQ:COMM traded up $0.03 during trading on Wednesday, reaching $2.57. The company had a trading volume of 4,989,555 shares, compared to its average volume of 3,821,485. CommScope has a 12 month low of $0.86 and a 12 month high of $4.64. The company has a fifty day moving average of $1.43 and a two-hundred day moving average of $1.51.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.14. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.04 billion. On average, equities research analysts anticipate that CommScope will post -0.17 earnings per share for the current fiscal year.

CommScope Company Profile

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.