Ceredex Value Advisors LLC Purchases New Stake in Comtech Telecomm. Corp. (CMTL)

Ceredex Value Advisors LLC bought a new position in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 451,600 shares of the communications equipment provider’s stock, valued at approximately $16,379,000. Ceredex Value Advisors LLC owned approximately 1.89% of Comtech Telecomm. as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Metropolitan Life Insurance Co. NY raised its position in shares of Comtech Telecomm. by 29.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,991 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 1,838 shares in the last quarter. Chicago Equity Partners LLC raised its position in shares of Comtech Telecomm. by 5.0% during the 2nd quarter. Chicago Equity Partners LLC now owns 131,735 shares of the communications equipment provider’s stock worth $4,200,000 after acquiring an additional 6,265 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of Comtech Telecomm. during the 2nd quarter worth about $1,235,000. Cambria Investment Management L.P. raised its position in shares of Comtech Telecomm. by 11.5% during the 2nd quarter. Cambria Investment Management L.P. now owns 15,492 shares of the communications equipment provider’s stock worth $494,000 after acquiring an additional 1,602 shares in the last quarter. Finally, USA Financial Portformulas Corp acquired a new stake in shares of Comtech Telecomm. during the 3rd quarter worth about $245,000. 85.66% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on CMTL. BidaskClub lowered Comtech Telecomm. from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. ValuEngine lowered Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research raised Comtech Telecomm. from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Monday, October 1st. Finally, BMO Capital Markets raised their target price on Comtech Telecomm. from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Comtech Telecomm. currently has an average rating of “Buy” and an average price target of $35.17.



NASDAQ:CMTL opened at $26.84 on Wednesday. The company has a market cap of $645.96 million, a P/E ratio of 36.60, a PEG ratio of 5.62 and a beta of 1.58. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. Comtech Telecomm. Corp. has a 52-week low of $19.32 and a 52-week high of $36.94.

Comtech Telecomm. (NASDAQ:CMTL) last released its quarterly earnings results on Wednesday, September 26th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $174.72 million. Comtech Telecomm. had a return on equity of 3.67% and a net margin of 5.22%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. On average, research analysts expect that Comtech Telecomm. Corp. will post 0.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Wednesday, October 17th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.49%. Comtech Telecomm.’s dividend payout ratio is presently 53.33%.

In related news, insider John Branscum sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $31.94, for a total transaction of $48,229.40. Following the transaction, the insider now owns 45,323 shares in the company, valued at approximately $1,447,616.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edwin Kantor sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $34.00, for a total value of $51,000.00. Following the transaction, the director now owns 1,500 shares in the company, valued at approximately $51,000. The disclosure for this sale can be found here. Insiders have sold a total of 4,010 shares of company stock worth $133,779 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

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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.

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Institutional Ownership by Quarter for Comtech Telecomm. (NASDAQ:CMTL)

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