Empowered Funds LLC increased its holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL – free report ) by 8.2% during the first quarter, according to the latest disclosures made to the Securities and Exchange Commission. The institutional investor acquired an additional 5,765 shares during the period, bringing its holdings to 76,370 shares of the communications equipment provider’s stock. Empowered Funds LLC held 0.27% of Comtech Telecommunications worth $262,000 as of the latest SEC filing.
Other hedge funds also recently modified their holdings in CMTL. Oak Thistle LLC purchased a new stake in Comtech Telecommunications in the first quarter valued at approximately $66,000. Oxford Asset Management LLP purchased a new stake in Comtech Telecommunications in the fourth quarter valued at $105,000. Dynamic Technology Lab Private Ltd purchased a new stake in Comtech Telecommunications in the fourth quarter valued at $187,000. DA Davidson & CO. purchased a new stake in Comtech Telecommunications in the fourth quarter valued at $189,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Comtech Telecommunications by 20.9% in the third quarter. Ohio Public Employees Retirement System now owns 25,176 shares of the communications equipment provider’s stock valued at $220,000 after acquiring an additional 4,353 shares during the period.
Comtec Telecommunications shares fall 4.6%
Comtech Telecommunications Inc. shares opened trading at $2.90 on Monday. Comtech Telecommunications Inc.’s one year low is $1.53 and its one year high is $13.04. The company’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $4.14. The company has a market cap of $82.63 million, a price-to-earnings ratio of -2.06, a PEG ratio of 4.53 and a beta of 1.59. The company has a current ratio of 1.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.39.
Comtech Telecommunications (NASDAQ:CMTL – Get free report ) announced its quarterly earnings on Tuesday, June 18th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.18. Comtech Telecommunications had a net margin of -2.26% and a return on equity of +3.70%. The company’s revenue for the quarter was $128.08 million, beating the consensus estimate of $136.42 million. Sell-side analysts expect Comtech Telecommunications to post an EPS of 0.08 for the year.
Analyst upgrades and downgrades
Meanwhile, Jefferies Financial Group upgraded shares of Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 price target for the company in a report on Tuesday, June 25th.
Read the latest CMTL research report
Comtec Telecommunications Profile
(Free report)
Comtech Telecommunications Corp., together with its subsidiaries, is committed to providing next generation communications solutions in the United States and internationally. The company’s Satellite and Space Communications division offers satellite ground station technology, services and systems integration, including solid state and traveling wave tube power amplifiers, modems, VSAT platforms and frequency converters that facilitate the transmission of voice, video and data over GEO, MEO and LEO satellite constellations, as well as satellite communications and tracking antenna systems, including high precision full motion fixed and moving X/Y tracking antennas, RF feeds, reflectors and radomes.
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