Commscope Target of Unusually High Options Trading (COMM)

Commscope Holding Company Inc (NASDAQ:COMM) saw unusually large options trading activity on Wednesday. Traders purchased 5,328 call options on the company. This represents an increase of 1,852% compared to the typical daily volume of 273 call options.

Several hedge funds have recently added to or reduced their stakes in COMM. Franklin Resources Inc. increased its holdings in shares of Commscope by 96.5% in the 1st quarter. Franklin Resources Inc. now owns 8,495,600 shares of the communications equipment provider’s stock worth $339,576,000 after acquiring an additional 4,172,171 shares during the period. Blue Harbour Group L.P. increased its stake in Commscope by 45.8% during the 1st quarter. Blue Harbour Group L.P. now owns 7,738,090 shares of the communications equipment provider’s stock valued at $309,291,000 after buying an additional 2,431,500 shares during the period. FMR LLC increased its stake in Commscope by 14.2% during the 2nd quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock valued at $275,208,000 after buying an additional 1,168,575 shares during the period. American Century Companies Inc. acquired a new position in Commscope during the 1st quarter valued at about $42,916,000. Finally, Criterion Capital Management LLC increased its stake in Commscope by 152.4% during the 1st quarter. Criterion Capital Management LLC now owns 1,750,758 shares of the communications equipment provider’s stock valued at $69,978,000 after buying an additional 1,056,996 shares during the period.

Shares of COMM stock traded up $0.13 during trading hours on Friday, reaching $31.69. The stock had a trading volume of 1,006,200 shares, compared to its average volume of 1,563,135. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57. Commscope has a twelve month low of $26.29 and a twelve month high of $41.60. The stock has a market cap of $6.08 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01.

Commscope (NASDAQ:COMM) last released its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. Commscope had a net margin of 4.43% and a return on equity of 24.14%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned $0.60 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts forecast that Commscope will post 2.23 EPS for the current fiscal year.

A number of research analysts have recently issued reports on COMM shares. ValuEngine upgraded shares of Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. TheStreet downgraded shares of Commscope from a “b-” rating to a “c” rating in a research report on Friday, May 11th. BidaskClub downgraded shares of Commscope from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Credit Suisse Group set a $31.00 price target on shares of Commscope and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Commscope in a research report on Thursday, May 3rd. They issued a “neutral” rating and a $34.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Commscope currently has an average rating of “Hold” and a consensus target price of $36.68.

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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