Quantitative Systematic Strategies LLC Lowers Position in Comtech Telecommunications Corp. (CMTL)
Quantitative Systematic Strategies LLC lowered its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 17.8% during the second quarter, Holdings Channel reports. The firm owned 14,377 shares of the company’s stock after selling 3,106 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Comtech Telecommunications Corp. were worth $178,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CMTL. ClariVest Asset Management LLC boosted its stake in Comtech Telecommunications Corp. by 4.1% in the second quarter. ClariVest Asset Management LLC now owns 35,909 shares of the company’s stock worth $460,000 after buying an additional 1,400 shares during the last quarter. Strs Ohio boosted its stake in Comtech Telecommunications Corp. by 8.2% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock worth $389,000 after buying an additional 2,300 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Comtech Telecommunications Corp. during the second quarter worth $132,000. New York State Teachers Retirement System boosted its stake in Comtech Telecommunications Corp. by 0.3% in the second quarter. New York State Teachers Retirement System now owns 61,024 shares of the company’s stock worth $784,000 after buying an additional 200 shares during the last quarter. Finally, Sentinel Trust Co. LBA boosted its stake in Comtech Telecommunications Corp. by 23.0% in the second quarter. Sentinel Trust Co. LBA now owns 62,986 shares of the company’s stock worth $808,000 after buying an additional 11,795 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.
Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 1.78% during trading on Tuesday, hitting $10.88. The company’s stock had a trading volume of 292,770 shares. Comtech Telecommunications Corp. has a one year low of $10.61 and a one year high of $25.85. The company has a 50-day moving average of $12.55 and a 200 day moving average of $16.53. The firm’s market cap is $255.77 million.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The business had revenue of $152.40 million for the quarter. During the same period in the prior year, the company posted $0.34 EPS. The firm’s revenue was up 96.7% compared to the same quarter last year. On average, equities analysts forecast that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio is currently -235.29%.
A number of research firms have recently weighed in on CMTL. Zacks Investment Research cut Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday. Noble Financial reissued a “buy” rating and issued a $20.00 price objective on shares of Comtech Telecommunications Corp. in a research report on Wednesday, October 12th. Jefferies Group reissued a “hold” rating and issued a $11.75 price objective (down previously from $14.00) on shares of Comtech Telecommunications Corp. in a research report on Wednesday, October 12th. Citigroup Inc. lowered their price target on Comtech Telecommunications Corp. from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, October 10th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Comtech Telecommunications Corp. currently has an average rating of “Hold” and an average target price of $16.68.
In related news, Director Edwin Kantor sold 3,000 shares of the stock in a transaction on Friday, October 14th. The stock was sold at an average price of $10.95, for a total value of $32,850.00. Following the transaction, the director now owns 7,375 shares of the company’s stock, valued at $80,756.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.70% of the company’s stock.
Comtech Telecommunications Corp. Company Profile
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions. The Company operates through three segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. Its telecommunications transmission segment provides equipment and systems used for satellite transmission and enable wireless communications.
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