D. E. Shaw & Co. Inc. boosted its holdings in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,983 shares of the communications equipment provider’s stock after purchasing an additional 3,587 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Comtech Telecomm. were worth $292,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CMTL. SG Americas Securities LLC boosted its stake in shares of Comtech Telecomm. by 104.9% in the 3rd quarter. SG Americas Securities LLC now owns 7,260 shares of the communications equipment provider’s stock valued at $263,000 after purchasing an additional 3,716 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Comtech Telecomm. by 2.5% in the 3rd quarter. BlackRock Inc. now owns 3,525,834 shares of the communications equipment provider’s stock valued at $127,881,000 after purchasing an additional 87,030 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Comtech Telecomm. by 48.0% in the 3rd quarter. Renaissance Technologies LLC now owns 506,850 shares of the communications equipment provider’s stock valued at $18,383,000 after purchasing an additional 164,300 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Comtech Telecomm. in the 3rd quarter valued at approximately $266,000. Finally, MetLife Investment Advisors LLC boosted its stake in shares of Comtech Telecomm. by 52.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 17,440 shares of the communications equipment provider’s stock valued at $633,000 after purchasing an additional 5,965 shares in the last quarter. Institutional investors own 87.41% of the company’s stock.
Shares of NASDAQ CMTL opened at $23.51 on Tuesday. The company has a market capitalization of $573.71 million, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 4.21 and a beta of 1.31. Comtech Telecomm. Corp. has a 1 year low of $20.94 and a 1 year high of $36.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.20 and a quick ratio of 1.53.
Comtech Telecomm. (NASDAQ:CMTL) last issued its quarterly earnings data on Wednesday, March 6th. The communications equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The business had revenue of $164.10 million during the quarter, compared to analyst estimates of $159.96 million. Comtech Telecomm. had a net margin of 4.21% and a return on equity of 6.56%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. Analysts forecast that Comtech Telecomm. Corp. will post 1.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Wednesday, April 17th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. Comtech Telecomm.’s dividend payout ratio (DPR) is presently 53.33%.
In related news, VP John Branscum sold 1,158 shares of the firm’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $25.16, for a total value of $29,135.28. Following the completion of the transaction, the vice president now owns 35,162 shares in the company, valued at approximately $884,675.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 7.30% of the stock is owned by company insiders.
CMTL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Comtech Telecomm. from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Friday, March 8th. ValuEngine upgraded shares of Comtech Telecomm. from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Noble Financial restated a “buy” rating and issued a $38.00 price target on shares of Comtech Telecomm. in a research note on Wednesday, March 13th. Finally, BidaskClub upgraded shares of Comtech Telecomm. from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.80.
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Comtech Telecomm. Company Profile
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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