QVT Financial LP Buys 407,998 Shares of Comtech Telecommunications Corp. $CMTL

QVT Financial LP raised its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 41.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,392,352 shares of the communications equipment provider’s stock after acquiring an additional 407,998 shares during the period. Comtech Telecommunications comprises approximately 0.6% of QVT Financial LP’s investment portfolio, making the stock its 19th largest holding. QVT Financial LP’s holdings in Comtech Telecommunications were worth $6,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Potomac Capital Management Inc. bought a new position in Comtech Telecommunications during the 4th quarter valued at $851,000. Royce & Associates LP lifted its stake in Comtech Telecommunications by 1.3% during the 3rd quarter. Royce & Associates LP now owns 1,590,698 shares of the communications equipment provider’s stock valued at $4,104,000 after acquiring an additional 20,300 shares in the last quarter. Mount Lucas Management LP lifted its stake in Comtech Telecommunications by 7.4% during the 3rd quarter. Mount Lucas Management LP now owns 107,400 shares of the communications equipment provider’s stock valued at $277,000 after acquiring an additional 7,400 shares in the last quarter. State Street Corp lifted its stake in Comtech Telecommunications by 10.2% during the 4th quarter. State Street Corp now owns 128,937 shares of the communications equipment provider’s stock valued at $682,000 after acquiring an additional 11,900 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Comtech Telecommunications by 71.4% during the 3rd quarter. Two Sigma Investments LP now owns 256,607 shares of the communications equipment provider’s stock valued at $662,000 after acquiring an additional 106,866 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Comtech Telecommunications from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Comtech Telecommunications presently has a consensus rating of “Reduce”.

Comtech Telecommunications Stock Performance

NASDAQ CMTL opened at $4.83 on Monday. The stock has a market capitalization of $143.60 million, a price-to-earnings ratio of -2.17 and a beta of 1.40. Comtech Telecommunications Corp. has a one year low of $1.80 and a one year high of $6.21. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.69 and a quick ratio of 1.23. The business’s fifty day moving average is $4.20 and its 200-day moving average is $4.53.

Comtech Telecommunications (NASDAQ:CMTL) last released its earnings results on Monday, March 16th. The communications equipment provider reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $106.76 million for the quarter, compared to analysts’ expectations of $113.85 million. Comtech Telecommunications had a return on equity of 50.25% and a net margin of 2.60%. Equities research analysts predict that Comtech Telecommunications Corp. will post -0.91 EPS for the current year.

About Comtech Telecommunications

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.