The Comtech Telecommunications Corp. (CMTL) Stake Cut by Wells Fargo & Company MN

The Comtech Telecommunications Corp. (CMTL) Stake Cut by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 98.1% during the third quarter, Holdings Channel reports. The institutional investor owned 11,450 shares of the company’s stock after selling 597,571 shares during the period. Wells Fargo & Company MN’s holdings in Comtech Telecommunications Corp. were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. 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 valued at $784,000 after buying an additional 200 shares in the last quarter. 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 valued at $460,000 after buying an additional 1,400 shares during the period. Wedge Capital Management L L P NC boosted its stake in Comtech Telecommunications Corp. by 32.3% in the second quarter. Wedge Capital Management L L P NC now owns 34,800 shares of the company’s stock valued at $447,000 after buying an additional 8,500 shares during the period. Bank of New York Mellon Corp boosted its stake in Comtech Telecommunications Corp. by 19.8% in the second quarter. Bank of New York Mellon Corp now owns 350,462 shares of the company’s stock valued at $4,500,000 after buying an additional 58,039 shares during the period. Finally, Swiss National Bank boosted its stake in Comtech Telecommunications Corp. by 38.9% in the second quarter. Swiss National Bank now owns 35,000 shares of the company’s stock valued at $449,000 after buying an additional 9,800 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.

Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 0.18% during trading on Friday, hitting $10.84. 259,093 shares of the company traded hands. The stock’s market capitalization is $255.02 billion. Comtech Telecommunications Corp. has a 52 week low of $9.52 and a 52 week high of $25.09. The company’s 50 day moving average is $11.61 and its 200-day moving average is $12.09.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Wednesday, January 18th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, January 13th. This represents a $0.40 annualized dividend and a yield of 3.69%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is -56.34%.

Several analysts have recently weighed in on CMTL shares. Citigroup Inc. lowered their price objective on shares of Comtech Telecommunications Corp. from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, October 10th. BMO Capital Markets restated a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Monday, October 10th. Zacks Investment Research cut shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Jefferies Group restated a “hold” rating and set a $11.75 price objective (down previously from $14.00) on shares of Comtech Telecommunications Corp. in a research report on Wednesday, October 12th. Finally, Noble Financial restated a “buy” rating and set a $20.00 price objective on shares of Comtech Telecommunications Corp. in a research report on Wednesday, October 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price 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.

Want to see what other hedge funds are holding CMTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comtech Telecommunications Corp. (NASDAQ:CMTL).

Related posts

Leave a Comment