Insider Buying: Comtech Telecommunications Corp. (NASDAQ:CMTL) CEO Acquires 44,000 Shares of Stock

Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Rating) CEO Ken Allen Peterman acquired 44,000 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were purchased at an average price of $12.75 per share, with a total value of $561,000.00. Following the completion of the purchase, the chief executive officer now owns 44,000 shares in the company, valued at approximately $561,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Comtech Telecommunications Price Performance

CMTL stock opened at $13.48 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 0.90. The business has a 50 day simple moving average of $12.14 and a 200-day simple moving average of $11.21. The firm has a market capitalization of $374.41 million, a PE ratio of -8.07 and a beta of 1.62. Comtech Telecommunications Corp. has a 1 year low of $8.42 and a 1 year high of $23.35.

Comtech Telecommunications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Wednesday, January 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, January 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.97%. Comtech Telecommunications’s dividend payout ratio (DPR) is presently -23.95%.

Institutional Investors Weigh In On Comtech Telecommunications

A number of large investors have recently made changes to their positions in CMTL. Mutual of America Capital Management LLC lifted its holdings in Comtech Telecommunications by 22.9% in the third quarter. Mutual of America Capital Management LLC now owns 5,472 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 1,018 shares during the last quarter. UBS Group AG lifted its holdings in Comtech Telecommunications by 6.8% in the first quarter. UBS Group AG now owns 18,514 shares of the communications equipment provider’s stock valued at $291,000 after acquiring an additional 1,171 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Comtech Telecommunications by 9.2% in the third quarter. Thrivent Financial for Lutherans now owns 28,437 shares of the communications equipment provider’s stock valued at $285,000 after acquiring an additional 2,386 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Comtech Telecommunications by 2.6% in the third quarter. Nuveen Asset Management LLC now owns 95,854 shares of the communications equipment provider’s stock valued at $959,000 after acquiring an additional 2,432 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Comtech Telecommunications by 19.0% in the third quarter. Alliancebernstein L.P. now owns 15,535 shares of the communications equipment provider’s stock valued at $156,000 after acquiring an additional 2,479 shares during the last quarter. 72.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CMTL shares. StockNews.com upgraded Comtech Telecommunications from a “sell” rating to a “hold” rating in a research note on Friday, December 16th. Citigroup boosted their price objective on Comtech Telecommunications from $12.00 to $14.50 and gave the stock a “neutral” rating in a research note on Monday, December 12th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.17.

About Comtech Telecommunications

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Comtech Telecommunications Corp., together with its subsidiaries, designs, develops, produces, and markets products, systems, and services for communications solutions in the United States and internationally. It operates in two segments, Commercial Solutions and Government Solutions. The Commercial Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters, and network software to modulate, demodulate, and amplify signals, as well as to carry voice, video, and/or data over networks; and public safety and location technologies, such as 911 call handling and mapping solutions that allow cellular carriers and voice over the Internet carriers to deliver emergency calls to public safety emergency call centers.