Guggenheim Capital LLC lowered its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 56.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,849 shares of the communications equipment provider’s stock after selling 144,485 shares during the quarter. Guggenheim Capital LLC’s holdings in Comtech Telecommunications were worth $2,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Deutsche Bank AG boosted its position in Comtech Telecommunications by 35.5% during the fourth quarter. Deutsche Bank AG now owns 79,119 shares of the communications equipment provider’s stock valued at $1,748,000 after purchasing an additional 20,734 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Comtech Telecommunications in the fourth quarter worth about $342,000. Renaissance Technologies LLC boosted its holdings in Comtech Telecommunications by 225.1% in the fourth quarter. Renaissance Technologies LLC now owns 253,250 shares of the communications equipment provider’s stock worth $5,602,000 after acquiring an additional 175,350 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Comtech Telecommunications by 37.3% in the fourth quarter. Alliancebernstein L.P. now owns 68,520 shares of the communications equipment provider’s stock worth $1,516,000 after acquiring an additional 18,600 shares in the last quarter. Finally, USA Financial Portformulas Corp acquired a new stake in Comtech Telecommunications in the fourth quarter worth about $328,000. 87.72% of the stock is currently owned by institutional investors.
Shares of NASDAQ CMTL opened at $30.73 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.29. The stock has a market capitalization of $722.54, a price-to-earnings ratio of 90.38, a price-to-earnings-growth ratio of 11.23 and a beta of 1.49. Comtech Telecommunications Corp. has a fifty-two week low of $13.11 and a fifty-two week high of $31.50.
Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, March 7th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $124.65 million. During the same quarter last year, the company earned $0.01 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. equities analysts anticipate that Comtech Telecommunications Corp. will post 0.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Investors of record on Wednesday, April 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, April 17th. Comtech Telecommunications’s dividend payout ratio (DPR) is 117.65%.
In related news, insider Richard L. Burt sold 82,700 shares of Comtech Telecommunications stock in a transaction dated 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 completion of the sale, the insider now owns 178,315 shares of the company’s stock, valued at $5,431,474.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edwin Kantor sold 3,318 shares of Comtech Telecommunications stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $30.49, for a total value of $101,165.82. Following the sale, the director now directly owns 4,057 shares of the company’s stock, valued at approximately $123,697.93. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.
Several brokerages have weighed in on CMTL. BidaskClub raised Comtech Telecommunications from a “hold” rating to a “buy” rating in a report on Tuesday, March 13th. Noble Financial reissued an “average” rating on shares of Comtech Telecommunications in a report on Friday, March 9th. Zacks Investment Research raised Comtech Telecommunications from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, March 13th. BMO Capital Markets reissued a “buy” rating on shares of Comtech Telecommunications in a report on Thursday, March 8th. Finally, Jefferies Group reissued a “hold” rating on shares of Comtech Telecommunications in a report on Thursday, March 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.10.
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Comtech Telecommunications Company Profile
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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