Wasatch Advisors LP Acquires Shares of 772,782 Comtech Telecommunications Corp. (NASDAQ:CMTL)

Wasatch Advisors LP acquired a new stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 772,782 shares of the communications equipment provider’s stock, valued at approximately $2,651,000. Wasatch Advisors LP owned approximately 2.71% of Comtech Telecommunications as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMTL. Charles Schwab Investment Management Inc. raised its stake in Comtech Telecommunications by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 527,106 shares of the communications equipment provider’s stock valued at $4,612,000 after buying an additional 21,431 shares in the last quarter. Kennedy Capital Management LLC raised its stake in Comtech Telecommunications by 1,170.7% during the third quarter. Kennedy Capital Management LLC now owns 631,552 shares of the communications equipment provider’s stock valued at $5,526,000 after buying an additional 581,850 shares in the last quarter. GSA Capital Partners LLP raised its stake in Comtech Telecommunications by 210.0% during the third quarter. GSA Capital Partners LLP now owns 182,035 shares of the communications equipment provider’s stock valued at $1,593,000 after buying an additional 123,307 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Comtech Telecommunications by 20.9% during the third quarter. Public Employees Retirement System of Ohio now owns 25,176 shares of the communications equipment provider’s stock valued at $220,000 after buying an additional 4,353 shares in the last quarter. Finally, Profit Investment Management LLC raised its stake in Comtech Telecommunications by 18.2% during the fourth quarter. Profit Investment Management LLC now owns 203,656 shares of the communications equipment provider’s stock valued at $1,717,000 after buying an additional 31,358 shares in the last quarter.

Comtech Telecommunications Stock Performance

Shares of Comtech Telecommunications stock traded down $0.06 on Tuesday, reaching $3.03. 369,521 shares of the company were exchanged, compared to its average volume of 1,443,430. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.78. The company’s 50-day moving average is $2.41 and its two-hundred day moving average is $4.60. The firm has a market cap of $86.32 million, a price-to-earnings ratio of -2.15, a P/E/G ratio of 4.73 and a beta of 1.58. Comtech Telecommunications Corp. has a 1-year low of $1.53 and a 1-year high of $13.04.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 price target on the stock in a research report on Tuesday, June 25th.

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.