Victory Capital Management Inc. increased its position in shares of Comtech Telecommunications Corp. (NASDAQ: CMTL – Get a rating) by 4.8% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 89,743 shares of the communications equipment provider after buying 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 period.
A number of other hedge funds have also recently increased or reduced their holdings in CMTL. Cooper Creek Partners Management LLC raised its position in Comtech Telecommunications shares by 64.9% in the fourth quarter. Cooper Creek Partners Management LLC now owns 1,319,436 shares of the communications equipment provider worth $31,257,000 after purchasing an additional 519,325 shares in the last quarter. Clearline Capital LP purchased a new stock position in Comtech Telecommunications in Q4 for a value of approximately $2,181,000. Citigroup Inc. increased its position in Comtech Telecommunications shares by 120.5% in the fourth quarter. Citigroup Inc. now owns 115,079 shares of the communications equipment provider worth $2,726,000 after buying an additional 62,881 shares in the last quarter. Kennedy Capital Management Inc. bought a new stock position in Comtech Telecommunications in Q4 for a value of approximately $1,377,000. Finally, DLD Asset Management LP bought a new position in shares of Comtech Telecommunications in the 4th quarter for a value of approximately $948,000. Institutional investors and hedge funds hold 73.67% of the company’s shares.
Insider Trading at Comtech Telecommunications
In other Comtech Telecommunications news, CEO Michael Porcelain acquired 6,250 shares in a trade dated Monday, July 18. The shares were purchased at an average price of $9.53 per share, with a total value of $59,562.50. As a result of the purchase, the CEO now directly owns 146,564 shares of the company, valued at approximately $1,396,754.92. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. In other Comtech Telecommunications news, Director Lisa Lesavoy acquired 10,000 shares in a trade dated Tuesday, July 19. The shares were purchased 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, valued at approximately $188,824.72. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. Additionally, CEO Michael Porcelain acquired 6,250 shares in a transaction dated Monday, July 18. The shares were acquired at an average cost of $9.53 per share, for a total transaction of $59,562.50. Following the purchase, the CEO now directly owns 146,564 shares of the company, valued at $1,396,754.92. Disclosure of this purchase can be found here. Insiders acquired 28,770 shares of the company valued at $289,249 during the last quarter. Insiders hold 5.80% of the shares of the company.
Analysts set new price targets
A number of analysts have weighed in on CMTL shares recently. Jefferies Financial Group cut Comtech Telecommunications shares from a “buy” rating to a “hold” rating and lowered its price target for the stock from $32.00 to $10.00 in a Wednesday 15 report. June. StockNews.com cut shares of Comtech Telecommunications from a “hold” rating to a “sell” rating in a Tuesday, June 14 report. Citigroup lowered its price target on Comtech Telecommunications shares from $20.00 to $14.00 and set a “neutral” rating on the stock in a Friday, June 10 report. TheStreet upgraded the shares of Comtech Telecommunications from a “c-” rating to a “d+” rating in a Wednesday, May 4 report. Finally, Noble Financial upgraded Comtech Telecommunications shares from a “market performer” rating to an “outperformer” rating and set a price target of $12.00 on the stock in a Monday report. June 13. One research analyst rated the stock with a sell rating, two assigned a hold rating and one gave the stock a buy rating. 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 capitalization of $333.70 million, a price-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 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 a rating) last reported results on Thursday, June 9. The communications equipment provider reported EPS of $0.06 for the quarter, beating the consensus estimate of ($0.03) by $0.09. The company posted revenue of $122.17 million for the quarter, compared to $122.53 million expected by analysts. Comtech Telecommunications recorded a negative net margin of 4.06% and a positive return on equity of 1.03%. Comtech Telecommunications quarterly revenue decreased 12.3% year-over-year. In the same quarter last year, the company achieved EPS of $0.26. On average, analysts expect Comtech Telecommunications Corp. shows -1.44 EPS for the current fiscal year.
Comtech Telecommunications Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19. Shareholders of record on Wednesday, July 20 will receive a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 19. This represents an annualized dividend of $0.40 and a yield of 3.30%. Comtech Telecommunications payout ratio is -36.36%.
Company Profile 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 Business Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters and network software for modulating, demodulating and amplify signals, as well as to transport voice, video and/or data over networks; and public safety and location-based technologies, such as 911 call handling and mapping solutions that enable mobile carriers and voice-over-internet carriers to route emergency calls to call centers in public safety emergency.
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