Comtech Telecommunications Corp. (NASDAQ:CMTL) Holdings Raised by Victory Capital Management Inc.



Victory Capital Management Inc. increased its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Rating) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,743 shares of the communications equipment provider’s stock after purchasing an additional 4,143 shares during the quarter. Victory Capital Management Inc. owned 0.34% of Comtech Telecommunications worth $1,370,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CMTL. Cooper Creek Partners Management LLC lifted its position in shares of Comtech Telecommunications by 64.9% in the 4th quarter. Cooper Creek Partners Management LLC now owns 1,319,436 shares of the communications equipment provider’s stock worth $31,257,000 after buying an additional 519,325 shares during the last quarter. Clearline Capital LP bought a new position in shares of Comtech Telecommunications in the 4th quarter worth about $2,181,000. Citigroup Inc. lifted its position in shares of Comtech Telecommunications by 120.5% in the 4th quarter. Citigroup Inc. now owns 115,079 shares of the communications equipment provider’s stock worth $2,726,000 after buying an additional 62,881 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Comtech Telecommunications in the 4th quarter worth about $1,377,000. Finally, DLD Asset Management LP bought a new position in shares of Comtech Telecommunications in the 4th quarter worth about $948,000. Institutional investors and hedge funds own 73.67% of the company’s stock.

Insider Transactions at Comtech Telecommunications

In other Comtech Telecommunications news, CEO Michael Porcelain acquired 6,250 shares of the stock in a transaction dated Monday, July 18th. The shares were bought at an average price of $9.53 per share, with a total value of $59,562.50. Following the purchase, the chief executive officer now directly owns 146,564 shares of the company’s stock, valued at approximately $1,396,754.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Comtech Telecommunications news, Director Lisa Lesavoy acquired 10,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 18,476 shares of the company’s stock, valued at approximately $188,824.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Porcelain acquired 6,250 shares of the stock in a transaction dated Monday, July 18th. The stock was acquired at an average cost of $9.53 per share, for a total transaction of $59,562.50. Following the purchase, the chief executive officer now directly owns 146,564 shares in the company, valued at $1,396,754.92. The disclosure for this purchase can be found here. Insiders have acquired 28,770 shares of company stock valued at $289,249 in the last quarter. Insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

The number of analysts recently weighed in on CMTL shares. Jefferies Financial Group cut shares of Comtech Telecommunications from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $10.00 in a report on Wednesday, June 15th. StockNews.com cut shares of Comtech Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Citigroup dropped their price objective on shares of Comtech Telecommunications from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. TheStreet cut shares of Comtech Telecommunications from a “c-” rating to a “d+” rating in a report on Wednesday, May 4th. Finally, Noble Financial raised shares of Comtech Telecommunications from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.00.

Comtech Telecommunications Stock Down 3.7%

Comtech Telecommunications stock opened at $12.13 on Friday. The stock has a market cap of $333.70 million, a price-to-earnings ratio of -11.03 and a beta of 1.74. The company has a current ratio of 1.34, a quick ratio of 0.88 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $10.38 and its two-hundred day moving average price is $14.07. Comtech Telecommunications Corp. has a 52 week low of $8.42 and a 52 week high of $27.70.

Comtech Telecommunications (NASDAQ:CMTL – Get Rating) last released its earnings results on Thursday, June 9th. The communications equipment provider reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.09. The firm had revenue of $122.17 million for the quarter, compared to analysts’ expectations of $122.53 million. Comtech Telecommunications had a negative net margin of 4.06% and a positive return on equity of 1.03%. Comtech Telecommunications’ quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. On average, analysts expect that Comtech Telecommunications Corp. will post -1.44 EPS for the current fiscal year.

Comtech Telecommunications Announcements Dividend

The business also recently announced 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 annualized dividend and a yield of 3.30%. Comtech Telecommunications’ payout ratio is -36.36%.

Comtech Telecommunications Company Profile

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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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Institutional Ownership by Quarter for Comtech Telecommunications (NASDAQ:CMTL)



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