Foundry Partners LLC Sells 11,060 Shares of Comtech Telecomm. Corp. (NASDAQ:CMTL)

Foundry Partners LLC reduced its stake in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) by 4.8% in the third quarter, Holdings Channel reports. The fund owned 219,475 shares of the communications equipment provider’s stock after selling 11,060 shares during the quarter. Foundry Partners LLC’s holdings in Comtech Telecomm. were worth $7,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in Comtech Telecomm. in the 2nd quarter worth approximately $49,000. Aperio Group LLC bought a new position in Comtech Telecomm. in the 2nd quarter worth approximately $111,000. Captrust Financial Advisors boosted its holdings in Comtech Telecomm. by 71.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,000 shares of the communications equipment provider’s stock worth $169,000 after buying an additional 2,500 shares during the period. Bailard Inc. bought a new position in Comtech Telecomm. in the 3rd quarter worth approximately $224,000. Finally, Susquehanna International Group LLP boosted its holdings in Comtech Telecomm. by 41.7% in the 2nd quarter. Susquehanna International Group LLP now owns 8,360 shares of the communications equipment provider’s stock worth $235,000 after buying an additional 2,460 shares during the period. 86.44% of the stock is owned by hedge funds and other institutional investors.

NASDAQ CMTL opened at $31.71 on Friday. Comtech Telecomm. Corp. has a 1 year low of $20.94 and a 1 year high of $36.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.93 and a quick ratio of 1.41. The stock has a market capitalization of $776.09 million, a PE ratio of 24.05, a P/E/G ratio of 4.41 and a beta of 1.50. The company’s 50 day simple moving average is $30.73 and its two-hundred day simple moving average is $27.03.

Comtech Telecomm. (NASDAQ:CMTL) last posted its earnings results on Tuesday, September 24th. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.08. Comtech Telecomm. had a net margin of 3.73% and a return on equity of 6.29%. The business had revenue of $176.40 million for the quarter, compared to analysts’ expectations of $164.89 million. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Comtech Telecomm. Corp. will post 1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Wednesday, October 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, October 15th. Comtech Telecomm.’s dividend payout ratio is presently 29.85%.

Several analysts have issued reports on the stock. Citigroup increased their target price on shares of Comtech Telecomm. from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Northland Securities reiterated a “buy” rating and issued a $42.00 target price on shares of Comtech Telecomm. in a research note on Wednesday, September 25th. Zacks Investment Research cut shares of Comtech Telecomm. from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, BidaskClub upgraded shares of Comtech Telecomm. from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Comtech Telecomm. presently has an average rating of “Buy” and an average price target of $36.50.

In other news, VP Richard L. Burt sold 40,703 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $34.33, for a total transaction of $1,397,333.99. Following the sale, the vice president now owns 70,187 shares in the company, valued at approximately $2,409,519.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.30% of the company’s stock.

Comtech Telecomm. Profile

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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