QVT Financial LP Has $7 Million Holdings in Comtech Telecommunications Corp. $CMTL

QVT Financial LP raised its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 41.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,392,352 shares of the communications equipment provider’s stock after purchasing an additional 407,998 shares during the quarter. Comtech Telecommunications makes up approximately 0.6% of QVT Financial LP’s investment portfolio, making the stock its 19th largest holding. QVT Financial LP owned approximately 4.70% of Comtech Telecommunications worth $6,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMTL. Marshall Wace LLP increased its position in Comtech Telecommunications by 91.4% during the 4th quarter. Marshall Wace LLP now owns 735,775 shares of the communications equipment provider’s stock valued at $3,892,000 after purchasing an additional 351,318 shares during the period. Potomac Capital Management Inc. acquired a new stake in Comtech Telecommunications during the 4th quarter valued at approximately $851,000. Two Sigma Investments LP increased its position in Comtech Telecommunications by 71.4% during the 3rd quarter. Two Sigma Investments LP now owns 256,607 shares of the communications equipment provider’s stock valued at $662,000 after purchasing an additional 106,866 shares during the period. Walleye Capital LLC acquired a new stake in shares of Comtech Telecommunications during the 4th quarter worth approximately $520,000. Finally, MML Investors Services LLC grew its position in shares of Comtech Telecommunications by 28.0% during the 4th quarter. MML Investors Services LLC now owns 410,596 shares of the communications equipment provider’s stock worth $2,172,000 after buying an additional 89,755 shares during the period.

Comtech Telecommunications Price Performance

Shares of CMTL opened at $4.83 on Monday. Comtech Telecommunications Corp. has a 12-month low of $1.80 and a 12-month high of $6.21. The business’s fifty day moving average is $4.20 and its 200 day moving average is $4.53. The company has a quick ratio of 1.23, a current ratio of 1.69 and a debt-to-equity ratio of 3.22. The stock has a market cap of $143.60 million, a P/E ratio of -2.17 and a beta of 1.40.

Comtech Telecommunications (NASDAQ:CMTL) last issued its earnings results on Monday, March 16th. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Comtech Telecommunications had a return on equity of 50.25% and a net margin of 2.60%.The company had revenue of $106.76 million for the quarter, compared to analysts’ expectations of $113.85 million. Sell-side analysts anticipate that Comtech Telecommunications Corp. will post -0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

Comtech Telecommunications Profile

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.