SG Americas Securities LLC reduced its stake in shares of Comtech Telecommunications Corp. (NASDAQ: CMTL – Get a rating) by 28.5% in Q1, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 28,852 shares of the communications equipment provider 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 last quarter.
Several other large investors also bought and sold shares of CMTL. Yousif Capital Management LLC bought a new position in Comtech Telecommunications during the 4th quarter at a value of $554,000. Mint Tower Capital Management BV bought a new position in shares of Comtech Telecommunications in the 4th quarter for a value of approximately $172,000. Victory Capital Management Inc. raised its position in Comtech Telecommunications shares by 15.6% in the fourth quarter. Victory Capital Management Inc. now owns 85,600 shares of the communications equipment provider worth $2,028,000 after acquiring an additional 11,542 shares last quarter. First Trust Advisors LP raised its position in Comtech Telecommunications shares by 4.1% in the fourth quarter. First Trust Advisors LP now owns 13,781 shares of the communications equipment supplier worth $326,000 after acquiring an additional 543 shares last quarter. Finally, Bank of America Corp DE increased its position in Comtech Telecommunications shares by 21.8% in the 4th quarter. Bank of America Corp DE now owns 83,723 shares of the communications equipment provider worth $1,983,000 after acquiring an additional 14,974 shares last quarter. 73.67% of the shares are held by institutional investors.
Comtech Telecom 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 ratio of 0.27, a quick ratio of 0.88 and a current ratio of 1.34. Comtech Telecommunications Corp. has a 52 week minimum of $8.42 and a 52 week maximum of $27.70. The company 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 a rating) last released its quarterly results on Thursday, June 9. The communications equipment provider reported earnings per share (EPS) of $0.06 for the quarter, beating consensus analyst estimates of ($0.03) by $0.09. The company posted revenue of $122.17 million in the quarter, versus a consensus estimate of $122.53 million. Comtech Telecommunications reported 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% year over year. In the same quarter of the previous year, the company achieved EPS of $0.26. Research analysts expect Comtech Telecommunications Corp. shows -1.44 EPS for the current fiscal year.
Comtech Telecommunications Announces Dividend
The company also recently declared 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 a dividend of $0.40 on an annualized basis and a yield of 3.42%. Comtech Telecommunications’ dividend payout ratio (DPR) is currently -36.36%.
Wall Street analysts predict growth
Several research analysts have recently weighed in on CMTL shares. Citigroup lowered its price target on Comtech Telecommunications from $20.00 to $14.00 and set a “neutral” rating for the company in a Friday, June 10 research report. Noble Financial upgraded Comtech Telecommunications from a “market performance” rating to an “outperform” rating and set a target price of $12.00 for the company in a Monday, June 13 research note. Jefferies Financial Group downgraded Comtech Telecommunications from a “buy” rating to a “hold” rating and reduced its target price for the company from $32.00 to $10.00 in a Wednesday, June 15 research note. TheStreet downgraded Comtech Telecommunications from a “c-” rating to a “d+” rating in a Wednesday, May 4 research note. To finish, StockNews.com downgraded Comtech Telecommunications from a “hold” rating to a “sell” rating in a Tuesday, June 14 research memo. One analyst rated the stock with a sell rating, two issued a hold rating and one gave the company a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Insider Trading at Comtech Telecommunications
In other Comtech Telecommunications news, Chief Financial Officer Michael Bondi purchased 4,000 shares of the company in a trade dated Monday, July 18. 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 CFO now directly owns 43,516 shares of the company, valued at $406,004.28. The acquisition was disclosed in a legal filing with the SEC, which is available via this link. Separately, director Lisa Lesavoy bought 10,000 shares in a trade that took place on 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 acquisition, the director now owns 18,476 shares of the company, 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. Additionally, CFO Michael Bondi bought 4,000 shares in a trade that took place on Monday, July 18. The stock was purchased at an average price of $9.33 per share, for a total transaction of $37,320.00. Following the acquisition, the CFO now directly owns 43,516 shares of the company, valued at approximately $406,004.28. Disclosure of this purchase can be found here. Insiders have acquired 28,770 shares of the company worth $289,249 in the past 90 days. Insiders hold 5.80% of the shares of the company.
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 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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