SG Americas Securities LLC reduced its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Rating) by 28.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,852 shares of the communications equipment provider’s stock after selling 11,522 shares during the period. SG Americas Securities LLC owned 0.11% of Comtech Telecommunications worth $453,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of CMTL. Yousif Capital Management LLC bought a new position in Comtech Telecommunications during the 4th quarter worth $554,000. Mint Tower Capital Management BV bought a new position in shares of Comtech Telecommunications in the 4th quarter worth about $172,000. Victory Capital Management Inc. its position raised in shares of Comtech Telecommunications by 15.6% in the 4th quarter. Victory Capital Management Inc. now owns 85,600 shares of the communications equipment provider’s stock worth $2,028,000 after acquiring an additional 11,542 shares in the last quarter. First Trust Advisors LP raised its position in shares of Comtech Telecommunications by 4.1% in the 4th quarter. First Trust Advisors LP now owns 13,781 shares of the communications equipment provider’s stock worth $326,000 after acquiring an additional 543 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Comtech Telecommunications by 21.8% in the 4th quarter. Bank of America Corp DE now owns 83,723 shares of the communications equipment provider’s stock worth $1,983,000 after acquiring an additional 14,974 shares in the last quarter. 73.67% of the stock is owned by institutional investors.
Comtech Telecommunications Price Performance
CMTL stock opened at $11.70 on Friday. The company has a market capitalization of $321.87 million, a P/E ratio of -10.64 and a beta of 1.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.88 and a current ratio of 1.34. Comtech Telecommunications Corp. has a 52-week low of $8.42 and a 52-week high of $27.70. The business has a 50-day simple moving average of $10.47 and a two-hundred day simple moving average of $14.44.
Comtech Telecommunications (NASDAQ:CMTL – Get Rating) last released its quarterly earnings results on Thursday, June 9th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. The business had revenue of $122.17 million during the quarter, compared to the consensus estimate of $122.53 million. Comtech Telecommunications had a positive return on equity of 1.03% and a negative net margin of 4.06%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. Research analysts expect that Comtech Telecommunications Corp. will post -1.44 EPS for the current fiscal year.
Comtech Telecommunications Announcements Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 19th. This represents a $0.40 dividend on an annualized basis and a yield of 3.42%. Comtech Telecommunications’s dividend payout ratio (DPR) is currently -36.36%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on CMTL shares. Citigroup lowered its price objective on Comtech Telecommunications from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. Noble Financial upgraded Comtech Telecommunications from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Monday, June 13th. Jefferies Financial Group downgraded Comtech Telecommunications from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $10.00 in a research note on Wednesday, June 15th. TheStreet downgraded Comtech Telecommunications from a “c-” rating to a “d+” rating in a research note on Wednesday, May 4th. Finally, StockNews.com downgraded Comtech Telecommunications from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Insider Transactions at Comtech Telecommunications
In other Comtech Telecommunications news, CFO Michael Bondi bought 4,000 shares of the business’s stock in a transaction dated Monday, July 18th. The shares were purchased at an average price of $9.33 per share, for a total transaction of $37,320.00. Following the purchase, the chief financial officer now directly owns 43,516 shares of the company’s stock, valued at $406,004.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Lisa Lesavoy purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The shares were bought at an average price of $10.22 per share, with a total value of $102,200.00. Following the acquisition, the director now owns 18,476 shares of the company’s stock, valued at approximately $188,824.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Bondi purchased 4,000 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was bought at an average cost of $9.33 per share, for a total transaction of $37,320.00. Following the acquisition, the chief financial officer now directly owns 43,516 shares in the company, valued at approximately $406,004.28. The disclosure for this purchase can be found here. Insiders have acquired 28,770 shares of company stock worth $289,249 in the last 90 days. Insiders own 5.80% of the company’s stock.
About Comtech Telecommunications
Comtech Telecommunications Corp., together with its subsidiaries, designs, develops, produces, and markets products, systems, and services for communications solutions in the United States and internationally. It operates in two segments, Commercial Solutions and Government Solutions. The Commercial Solutions segment satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters, and network software to modulate, demodulate, and amplify signals, as well as to carry voice, video, and/ or data over networks; and public safety and location technologies, such as 911 call handling and mapping solutions that allow cellular carriers and voice over the Internet carriers to deliver emergency calls to public safety emergency call centers.
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