Investors Buy High Volume of Call Options on Commscope (COMM)
Commscope Holding Company Inc (NASDAQ:COMM) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 2,948 call options on the company. This is an increase of approximately 5,462% compared to the average volume of 53 call options.
Shares of Commscope (NASDAQ:COMM) opened at $38.31 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.10. Commscope has a 12 month low of $30.95 and a 12 month high of $42.75. The company has a market cap of $7,329.08, a P/E ratio of 38.70, a P/E/G ratio of 3.00 and a beta of 1.20.
Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business posted $0.81 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. analysts anticipate that Commscope will post 2.01 earnings per share for the current fiscal year.
A number of analysts recently commented on COMM shares. Jefferies Group reiterated a “buy” rating and issued a $40.00 target price on shares of Commscope in a research note on Thursday, October 12th. ValuEngine cut shares of Commscope from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Northland Securities reiterated a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Zacks Investment Research cut shares of Commscope from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Citigroup lifted their target price on shares of Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.30.
In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of Commscope stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $36.45, for a total value of $1,822,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank M. Drendel sold 60,000 shares of Commscope stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $38.01, for a total transaction of $2,280,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,284 shares of company stock worth $4,303,945. Insiders own 3.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in COMM. Great West Life Assurance Co. Can lifted its stake in Commscope by 197.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 62,867 shares of the communications equipment provider’s stock valued at $2,388,000 after acquiring an additional 41,701 shares during the period. Rhumbline Advisers lifted its stake in Commscope by 32.4% during the 2nd quarter. Rhumbline Advisers now owns 194,858 shares of the communications equipment provider’s stock valued at $7,410,000 after acquiring an additional 47,712 shares during the period. Advisors Asset Management Inc. lifted its stake in Commscope by 6.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 18,504 shares of the communications equipment provider’s stock valued at $704,000 after acquiring an additional 1,158 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Commscope during the 2nd quarter valued at approximately $3,032,000. Finally, State of Wisconsin Investment Board lifted its stake in Commscope by 476.3% during the 2nd quarter. State of Wisconsin Investment Board now owns 147,470 shares of the communications equipment provider’s stock valued at $5,608,000 after acquiring an additional 121,880 shares during the period.
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CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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