BlueMountain Capital Management LLC Has $746,000 Stake in Comtech Telecomm. Corp. (CMTL)

BlueMountain Capital Management LLC reduced its position in Comtech Telecomm. Corp. (NASDAQ:CMTL) by 19.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,395 shares of the communications equipment provider’s stock after selling 5,788 shares during the quarter. BlueMountain Capital Management LLC owned about 0.10% of Comtech Telecomm. worth $746,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cambria Investment Management L.P. boosted its position in shares of Comtech Telecomm. by 11.5% in the second quarter. Cambria Investment Management L.P. now owns 15,492 shares of the communications equipment provider’s stock valued at $494,000 after acquiring an additional 1,602 shares during the period. FMR LLC boosted its position in shares of Comtech Telecomm. by 6.4% in the second quarter. FMR LLC now owns 29,500 shares of the communications equipment provider’s stock valued at $940,000 after acquiring an additional 1,770 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Comtech Telecomm. by 25.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,503 shares of the communications equipment provider’s stock valued at $303,000 after acquiring an additional 1,939 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Comtech Telecomm. by 0.6% in the first quarter. State of Wisconsin Investment Board now owns 320,000 shares of the communications equipment provider’s stock valued at $9,565,000 after acquiring an additional 2,000 shares during the period. Finally, Uniplan Investment Counsel Inc. boosted its position in shares of Comtech Telecomm. by 1.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 181,043 shares of the communications equipment provider’s stock valued at $5,411,000 after acquiring an additional 2,237 shares during the period. Institutional investors own 86.90% of the company’s stock.

Several brokerages have issued reports on CMTL. TheStreet upgraded shares of Comtech Telecomm. from a “c+” rating to a “b-” rating in a research report on Wednesday, June 13th. BidaskClub lowered shares of Comtech Telecomm. from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine lowered shares of Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $35.00 target price on shares of Comtech Telecomm. in a research report on Thursday, June 7th. Finally, BMO Capital Markets lifted their target price on shares of Comtech Telecomm. from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Comtech Telecomm. has a consensus rating of “Hold” and an average price target of $33.83.

Shares of Comtech Telecomm. stock opened at $33.22 on Monday. Comtech Telecomm. Corp. has a 1 year low of $17.11 and a 1 year high of $36.80. The company has a market cap of $788.46 million, a price-to-earnings ratio of 97.71, a P/E/G ratio of 8.82 and a beta of 1.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.22.

Comtech Telecomm. 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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Institutional Ownership by Quarter for Comtech Telecomm. (NASDAQ:CMTL)

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