The Comtech Telecommunications Corp. (CMTL) Position Cut by Spark Investment Management LLC

The Comtech Telecommunications Corp. (CMTL) Position Cut by Spark Investment Management LLC

Spark Investment Management LLC cut its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 60.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,100 shares of the company’s stock after selling 48,500 shares during the period. Spark Investment Management LLC owned 0.14% of Comtech Telecommunications Corp. worth $411,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Comtech Telecommunications Corp. by 45.4% in the third quarter. California State Teachers Retirement System now owns 47,715 shares of the company’s stock valued at $611,000 after buying an additional 14,900 shares during the period. State of Tennessee Treasury Department increased its stake in shares of Comtech Telecommunications Corp. by 49.4% in the third quarter. State of Tennessee Treasury Department now owns 19,122 shares of the company’s stock valued at $245,000 after buying an additional 6,320 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Comtech Telecommunications Corp. by 97.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,539 shares of the company’s stock valued at $929,000 after buying an additional 35,890 shares during the period. Hancock Holding Co. increased its stake in shares of Comtech Telecommunications Corp. by 24.6% in the third quarter. Hancock Holding Co. now owns 44,353 shares of the company’s stock valued at $568,000 after buying an additional 8,763 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of Comtech Telecommunications Corp. by 48.6% in the third quarter. Advisor Group Inc. now owns 11,862 shares of the company’s stock valued at $152,000 after buying an additional 3,882 shares during the period. Institutional investors own 82.80% of the company’s stock.

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.37% on Wednesday, hitting $10.78. 233,929 shares of the company traded hands. The company’s market capitalization is $253.60 million. The stock’s 50-day moving average price is $11.66 and its 200-day moving average price is $12.11. Comtech Telecommunications Corp. has a 12 month low of $9.52 and a 12 month high of $25.09.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings results on Wednesday, December 7th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. Comtech Telecommunications Corp. had a negative net margin of 2.42% and a positive return on equity of 0.32%. The company earned $135.79 million during the quarter, compared to analysts’ expectations of $139.10 million. During the same quarter in the previous year, the business posted $0.09 EPS. The firm’s revenue was up 111.8% on a year-over-year basis. On average, equities analysts predict that Comtech Telecommunications Corp. will post $0.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Wednesday, January 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.71%. The ex-dividend date is Friday, January 13th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently -56.34%.

Several equities research analysts have weighed in on the stock. BMO Capital Markets lowered their target price on shares of Comtech Telecommunications Corp. to $16.00 and set an “outperform” rating for the company in a research note on Friday, December 9th. Zacks Investment Research upgraded shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. Noble Financial reaffirmed a “buy” rating and issued a $20.00 price target on shares of Comtech Telecommunications Corp. in a report on Wednesday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $11.75 price target (down previously from $14.00) on shares of Comtech Telecommunications Corp. in a report on Wednesday, October 12th. Finally, Citigroup Inc. decreased their price target on shares of Comtech Telecommunications Corp. from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, October 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Comtech Telecommunications Corp. currently has an average rating of “Buy” and a consensus price target of $16.25.

About Comtech Telecommunications Corp.

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.

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