Bank of New York Mellon Corp boosted its position in Comtech Telecomm. Corp. (NASDAQ:CMTL) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 725,706 shares of the communications equipment provider’s stock after buying an additional 6,410 shares during the period. Bank of New York Mellon Corp owned approximately 3.08% of Comtech Telecomm. worth $14,898,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan boosted its position in Comtech Telecomm. by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 3,270 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Comtech Telecomm. by 63.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 19,703 shares of the communications equipment provider’s stock worth $405,000 after purchasing an additional 7,648 shares in the last quarter. IndexIQ Advisors LLC boosted its position in Comtech Telecomm. by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 58,802 shares of the communications equipment provider’s stock worth $1,207,000 after purchasing an additional 26,695 shares in the last quarter. Chicago Equity Partners LLC boosted its position in Comtech Telecomm. by 409.3% in the 3rd quarter. Chicago Equity Partners LLC now owns 121,880 shares of the communications equipment provider’s stock worth $2,502,000 after purchasing an additional 97,950 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in Comtech Telecomm. in the 3rd quarter worth approximately $747,000. Institutional investors and hedge funds own 85.86% of the company’s stock.
In related news, CEO Fred Kornberg sold 15,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $20.65, for a total value of $309,750.00. Following the completion of the transaction, the chief executive officer now directly owns 475,632 shares of the company’s stock, valued at approximately $9,821,800.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Porcelain sold 30,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $21.41, for a total value of $642,300.00. Following the completion of the transaction, the insider now directly owns 71,668 shares of the company’s stock, valued at $1,534,411.88. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.
Shares of Comtech Telecomm. Corp. (NASDAQ CMTL) traded up $0.20 during trading hours on Friday, hitting $21.98. The stock had a trading volume of 87,469 shares, compared to its average volume of 147,122. Comtech Telecomm. Corp. has a 52-week low of $10.51 and a 52-week high of $23.90. The stock has a market cap of $519.37, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 9.86 and a beta of 1.90. The company has a quick ratio of 1.25, a current ratio of 1.77 and a debt-to-equity ratio of 0.37.
Comtech Telecomm. (NASDAQ:CMTL) last announced its earnings results on Wednesday, December 6th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.22. Comtech Telecomm. had a return on equity of 1.87% and a net margin of 3.11%. The firm had revenue of $121.57 million for the quarter, compared to analyst estimates of $106.94 million. During the same quarter last year, the firm posted ($0.11) EPS. The business’s revenue was down 10.5% on a year-over-year basis. analysts forecast that Comtech Telecomm. Corp. will post 0.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.82%. Comtech Telecomm.’s dividend payout ratio (DPR) is 56.34%.
Several equities research analysts have commented on CMTL shares. Zacks Investment Research upgraded Comtech Telecomm. from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, October 4th. Northland Securities restated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, November 17th. BMO Capital Markets restated a “buy” rating and issued a $21.00 price objective on shares of Comtech Telecomm. in a research report on Thursday, September 28th. Finally, Noble Financial restated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, September 29th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.30.
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About Comtech Telecomm.
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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