Cambria Investment Management L.P. cut its position in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) by 25.9% during the first quarter, HoldingsChannel.com reports. The firm owned 10,686 shares of the communications equipment provider’s stock after selling 3,738 shares during the quarter. Cambria Investment Management L.P.’s holdings in Comtech Telecomm. were worth $248,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CMTL. Resources Investment Advisors Inc. raised its stake in Comtech Telecomm. by 56.9% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,765 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 640 shares during the period. Investors Research Corp purchased a new position in Comtech Telecomm. during the first quarter worth about $56,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Comtech Telecomm. during the fourth quarter worth about $89,000. ClariVest Asset Management LLC purchased a new position in Comtech Telecomm. during the fourth quarter worth about $148,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Comtech Telecomm. by 434.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,972 shares of the communications equipment provider’s stock worth $194,000 after purchasing an additional 6,479 shares during the period. 87.13% of the stock is currently owned by institutional investors.
A number of brokerages have commented on CMTL. BidaskClub downgraded shares of Comtech Telecomm. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 14th. ValuEngine raised shares of Comtech Telecomm. from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research downgraded shares of Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Noble Financial reaffirmed a “buy” rating and set a $38.00 target price on shares of Comtech Telecomm. in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Comtech Telecomm. presently has a consensus rating of “Hold” and an average target price of $34.80.
Comtech Telecomm. stock opened at $22.14 on Friday. The company has a market capitalization of $534.15 million, a PE ratio of 29.52, a P/E/G ratio of 3.95 and a beta of 1.29. Comtech Telecomm. Corp. has a 1 year low of $20.94 and a 1 year high of $36.94. The company has a current ratio of 2.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34.
Comtech Telecomm. (NASDAQ:CMTL) last released its quarterly earnings results on Wednesday, March 6th. The communications equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $159.96 million. Comtech Telecomm. had a net margin of 4.21% and a return on equity of 6.56%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. On average, research analysts forecast that Comtech Telecomm. Corp. will post 1.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Wednesday, April 17th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, April 16th. Comtech Telecomm.’s dividend payout ratio (DPR) is 53.33%.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Enterprise Leader and is owned by of Enterprise Leader. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://theenterpriseleader.com/2019/05/25/cambria-investment-management-l-p-has-248000-holdings-in-comtech-telecomm-corp-cmtl.html.
About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
Further Reading: Marijuana Stocks Future Looks Bright
Want to see what other hedge funds are holding CMTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comtech Telecomm. Corp. (NASDAQ:CMTL).
Receive News & Ratings for Comtech Telecomm. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecomm. and related companies with MarketBeat.com's FREE daily email newsletter.