Principal Financial Group Inc. Sells 1,167 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Principal Financial Group Inc. cut its holdings in Comtech Telecommunications Corp. (NASDAQ:CMTLFree Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,665 shares of the communications equipment provider’s stock after selling 1,167 shares during the period. Principal Financial Group Inc. owned about 0.60% of Comtech Telecommunications worth $2,092,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Comtech Telecommunications by 9.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,670 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 980 shares during the period. UBS Group AG grew its holdings in Comtech Telecommunications by 6.8% during the first quarter. UBS Group AG now owns 18,514 shares of the communications equipment provider’s stock valued at $291,000 after purchasing an additional 1,171 shares during the period. Alliancebernstein L.P. lifted its position in shares of Comtech Telecommunications by 8.0% during the fourth quarter. Alliancebernstein L.P. now owns 16,784 shares of the communications equipment provider’s stock worth $204,000 after acquiring an additional 1,249 shares in the last quarter. Vident Investment Advisory LLC lifted its position in shares of Comtech Telecommunications by 5.2% during the fourth quarter. Vident Investment Advisory LLC now owns 35,287 shares of the communications equipment provider’s stock worth $428,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Comtech Telecommunications by 9.2% during the third quarter. Thrivent Financial for Lutherans now owns 28,437 shares of the communications equipment provider’s stock worth $285,000 after acquiring an additional 2,386 shares in the last quarter. 73.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Comtech Telecommunications news, CFO Michael Bondi acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average price of $9.29 per share, for a total transaction of $46,450.00. Following the completion of the transaction, the chief financial officer now owns 58,795 shares of the company’s stock, valued at approximately $546,205.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Michael Bondi purchased 5,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were acquired at an average price of $9.29 per share, for a total transaction of $46,450.00. Following the completion of the transaction, the chief financial officer now directly owns 58,795 shares of the company’s stock, valued at approximately $546,205.55. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark R. Quinlan purchased 100,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were purchased at an average price of $8.89 per share, for a total transaction of $889,000.00. Following the transaction, the director now directly owns 347,639 shares of the company’s stock, valued at $3,090,510.71. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 115,133 shares of company stock worth $1,029,178. Corporate insiders own 4.40% of the company’s stock.

Comtech Telecommunications Trading Up 0.2 %

Shares of CMTL stock opened at $10.07 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.39. Comtech Telecommunications Corp. has a 52-week low of $8.31 and a 52-week high of $16.87. The company has a market capitalization of $280.75 million, a PE ratio of -7.87, a price-to-earnings-growth ratio of 2.78 and a beta of 1.67. The business’s fifty day moving average is $9.50 and its 200 day moving average is $11.12.

Comtech Telecommunications (NASDAQ:CMTLGet Free Report) last issued its quarterly earnings data on Thursday, June 8th. The communications equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.49). Comtech Telecommunications had a negative return on equity of 1.25% and a negative net margin of 5.40%. The business had revenue of $136.32 million during the quarter, compared to analysts’ expectations of $135.85 million. On average, equities research analysts anticipate that Comtech Telecommunications Corp. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com assumed coverage on Comtech Telecommunications in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Citigroup dropped their target price on Comtech Telecommunications from $14.00 to $11.00 in a research report on Tuesday, June 27th.

View Our Latest Report on CMTL

About Comtech Telecommunications

(Free Report)

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.

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

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