Allspring Global Investments Holdings LLC trimmed its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL – Free Report) by 80.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,171 shares of the communications equipment provider’s stock after selling 13,116 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Comtech Telecommunications were worth $29,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CMTL. JPMorgan Chase & Co. raised its stake in shares of Comtech Telecommunications by 76.2% during the fourth quarter. JPMorgan Chase & Co. now owns 872,660 shares of the communications equipment provider’s stock valued at $10,595,000 after acquiring an additional 377,283 shares during the last quarter. Freshford Capital Management LLC bought a new position in shares of Comtech Telecommunications during the first quarter valued at about $4,488,000. Vanguard Group Inc. raised its stake in shares of Comtech Telecommunications by 11.4% during the third quarter. Vanguard Group Inc. now owns 1,861,239 shares of the communications equipment provider’s stock valued at $18,632,000 after acquiring an additional 189,738 shares during the last quarter. Profit Investment Management LLC raised its stake in shares of Comtech Telecommunications by 398.0% during the second quarter. Profit Investment Management LLC now owns 172,298 shares of the communications equipment provider’s stock valued at $1,575,000 after acquiring an additional 137,698 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Comtech Telecommunications by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,654,180 shares of the communications equipment provider’s stock valued at $20,643,000 after acquiring an additional 129,067 shares during the last quarter. 73.93% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Monday, October 16th.
Comtech Telecommunications Price Performance
Shares of NASDAQ CMTL opened at $12.33 on Friday. Comtech Telecommunications Corp. has a 1 year low of $7.91 and a 1 year high of $16.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.94. The company’s 50-day moving average is $10.15 and its 200 day moving average is $10.05. The stock has a market capitalization of $346.84 million, a P/E ratio of -10.19, a P/E/G ratio of 1.55 and a beta of 1.55.
Comtech Telecommunications (NASDAQ:CMTL – Get Free Report) last announced its quarterly earnings data on Thursday, October 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. Comtech Telecommunications had a negative net margin of 4.89% and a negative return on equity of 0.32%. The business had revenue of $148.81 million for the quarter, compared to analysts’ expectations of $140.13 million. On average, sell-side analysts expect that Comtech Telecommunications Corp. will post 1 earnings per share for the current year.
Comtech Telecommunications Company Profile
Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company's Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.
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