Kennedy Capital Management Inc. reduced its position in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 63.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,104 shares of the communications equipment provider’s stock after selling 61,432 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.15% of Comtech Telecommunications worth $777,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. KBC Group NV acquired a new position in Comtech Telecommunications during the fourth quarter worth $250,000. Dynamic Technology Lab Private Ltd increased its stake in shares of Comtech Telecommunications by 57.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 123,716 shares of the communications equipment provider’s stock valued at $2,540,000 after buying an additional 44,980 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Comtech Telecommunications by 2.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 397,367 shares of the communications equipment provider’s stock valued at $8,158,000 after buying an additional 8,251 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Comtech Telecommunications by 63.4% in the third quarter. BNP Paribas Arbitrage SA now owns 19,703 shares of the communications equipment provider’s stock valued at $405,000 after buying an additional 7,648 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Comtech Telecommunications by 37.9% in the third quarter. Wells Fargo & Company MN now owns 32,276 shares of the communications equipment provider’s stock valued at $663,000 after buying an additional 8,866 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. BidaskClub upgraded Comtech Telecommunications from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Group reiterated a “hold” rating on shares of Comtech Telecommunications in a research report on Thursday, March 15th. Zacks Investment Research upgraded Comtech Telecommunications from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, March 13th. Noble Financial reiterated an “average” rating on shares of Comtech Telecommunications in a research report on Friday, March 9th. Finally, BMO Capital Markets lifted their price objective on Comtech Telecommunications to $35.00 and gave the stock an “outperform” rating in a research report on Friday, March 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.10.
In other Comtech Telecommunications news, insider Richard L. Burt sold 82,700 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $30.46, for a total transaction of $2,519,042.00. Following the transaction, the insider now owns 178,315 shares of the company’s stock, valued at approximately $5,431,474.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edwin Kantor sold 3,318 shares of the business’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $30.49, for a total value of $101,165.82. Following the transaction, the director now directly owns 4,057 shares in the company, valued at approximately $123,697.93. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.
CMTL traded down $0.82 during midday trading on Friday, reaching $29.71. 145,607 shares of the company were exchanged, compared to its average volume of 259,184. Comtech Telecommunications Corp. has a one year low of $13.11 and a one year high of $31.40. The company has a current ratio of 1.82, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $721.12, a P/E ratio of 87.38, a price-to-earnings-growth ratio of 11.20 and a beta of 1.49.
Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, March 7th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. Comtech Telecommunications had a return on equity of 2.20% and a net margin of 4.87%. The business had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $124.65 million. During the same quarter in the previous year, the business posted $0.01 EPS. Comtech Telecommunications’s revenue for the quarter was down 3.8% on a year-over-year basis. equities analysts forecast that Comtech Telecommunications Corp. will post 0.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Wednesday, April 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, April 17th. Comtech Telecommunications’s payout ratio is 117.65%.
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About Comtech Telecommunications
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment provides ground-based equipment, such as single channel per carrier modems and solid state amplifiers that facilitate the transmission of voice, video, and data, as well as offers traveling wave tube amplifiers comprising high power narrow-band amplifiers that are used to amplify signals from satellite earth stations; and safety and security technology solutions that enable 911 c.
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