Van ECK Associates Corp Has $119,000 Stake in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Van ECK Associates Corp increased its position in Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Rating) by 54.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,935 shares of the communications equipment provider’s stock after purchasing an additional 4,197 shares during the period. Van ECK Associates Corp’s holdings in Comtech Telecommunications were worth $119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lapides Asset Management LLC boosted its stake in Comtech Telecommunications by 320.2% in the 2nd quarter. Lapides Asset Management LLC now owns 47,900 shares of the communications equipment provider’s stock worth $434,000 after purchasing an additional 36,500 shares during the period. Teton Advisors Inc. boosted its stake in Comtech Telecommunications by 21.8% in the 2nd quarter. Teton Advisors Inc. now owns 151,000 shares of the communications equipment provider’s stock worth $1,370,000 after purchasing an additional 27,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Comtech Telecommunications in the 2nd quarter worth approximately $107,000. Victory Capital Management Inc. lifted its position in Comtech Telecommunications by 16.5% in the 2nd quarter. Victory Capital Management Inc. now owns 104,549 shares of the communications equipment provider’s stock worth $949,000 after buying an additional 14,806 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Comtech Telecommunications by 16.4% in the 2nd quarter. Royce & Associates LP now owns 987,348 shares of the communications equipment provider’s stock worth $8,955,000 after buying an additional 138,900 shares in the last quarter. Institutional investors and hedge funds own 72.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMTL shares. StockNews.com upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, December 16th. Citigroup increased their target price on shares of Comtech Telecommunications from $12.00 to $14.50 and gave the stock a “neutral” rating in a research report on Monday, December 12th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.17.

Insider Activity

In other Comtech Telecommunications news, CEO Ken Allen Peterman purchased 44,000 shares of the business’s stock in a transaction dated Wednesday, January 11th. The shares were acquired at an average price of $12.75 per share, for a total transaction of $561,000.00. Following the acquisition, the chief executive officer now owns 44,000 shares of the company’s stock, valued at $561,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is owned by insiders.

Comtech Telecommunications Stock Up 5.0 %

Comtech Telecommunications stock opened at $14.12 on Friday. The company has a market capitalization of $392.18 million, a P/E ratio of -8.46 and a beta of 1.62. The firm’s fifty day simple moving average is $12.36 and its 200-day simple moving average is $11.33. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. Comtech Telecommunications Corp. has a 1-year low of $8.42 and a 1-year high of $22.03.

Comtech Telecommunications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Wednesday, January 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, January 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.83%. Comtech Telecommunications’s dividend payout ratio is currently -23.95%.

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.