Alliancebernstein L.P. Sells 1,800 Shares of Comtech Telecommunications Corp. (CMTL)

Alliancebernstein L.P. cut its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 8.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 19,550 shares of the communications equipment provider’s stock after selling 1,800 shares during the period. Alliancebernstein L.P.’s holdings in Comtech Telecommunications Corp. were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp purchased a new position in Comtech Telecommunications Corp. during the first quarter valued at about $159,000. Arizona State Retirement System boosted its position in Comtech Telecommunications Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 12,229 shares of the communications equipment provider’s stock valued at $180,000 after buying an additional 100 shares in the last quarter. American International Group Inc. boosted its position in Comtech Telecommunications Corp. by 7.9% in the first quarter. American International Group Inc. now owns 13,721 shares of the communications equipment provider’s stock valued at $202,000 after buying an additional 1,010 shares in the last quarter. Wells Fargo & Company MN boosted its position in Comtech Telecommunications Corp. by 5.1% in the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock valued at $280,000 after buying an additional 913 shares in the last quarter. Finally, Nine Chapters Capital Management LLC boosted its position in Comtech Telecommunications Corp. by 110.4% in the first quarter. Nine Chapters Capital Management LLC now owns 22,300 shares of the communications equipment provider’s stock valued at $329,000 after buying an additional 11,700 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Shares of Comtech Telecommunications Corp. (CMTL) traded down 0.62% during trading on Tuesday, reaching $19.20. The company’s stock had a trading volume of 6,321 shares. The firm has a market cap of $452.54 million, a PE ratio of 38.63 and a beta of 1.93. Comtech Telecommunications Corp. has a 12 month low of $9.52 and a 12 month high of $19.80. The company’s 50 day moving average price is $18.64 and its 200 day moving average price is $15.16.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its earnings results on Wednesday, June 7th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. Comtech Telecommunications Corp. had a return on equity of 0.81% and a net margin of 2.02%. The company had revenue of $127.80 million for the quarter, compared to analyst estimates of $136.68 million. During the same quarter in the prior year, the company earned ($0.89) EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Comtech Telecommunications Corp. will post $0.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 17th will be issued a $0.10 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.40 annualized dividend and a yield of 2.07%. Comtech Telecommunications Corp.’s payout ratio is currently 80.00%.

ILLEGAL ACTIVITY WARNING: This article was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://sportsperspectives.com/2017/08/15/alliancebernstein-l-p-sells-1800-shares-of-comtech-telecommunications-corp-cmtl.html.

Several research firms recently issued reports on CMTL. Noble Financial reiterated a “buy” rating on shares of Comtech Telecommunications Corp. in a report on Friday, June 9th. Zacks Investment Research cut Comtech Telecommunications Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Northland Securities set a $22.00 target price on Comtech Telecommunications Corp. and gave the stock a “buy” rating in a report on Monday, July 10th. Citigroup Inc. raised their target price on Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Finally, BidaskClub cut Comtech Telecommunications Corp. from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.42.

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).

Institutional Ownership by Quarter for Comtech Telecommunications Corp. (NASDAQ:CMTL)

Receive News & Ratings for Comtech Telecommunications Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecommunications Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply