Metropolitan Life Insurance Co. NY Acquires 6,479 Shares of Comtech Telecomm. Corp. (CMTL)

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Metropolitan Life Insurance Co. NY grew its holdings in Comtech Telecomm. Corp. (NASDAQ:CMTL) by 434.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,972 shares of the communications equipment provider’s stock after purchasing an additional 6,479 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Comtech Telecomm. were worth $194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Resources Investment Advisors Inc. boosted its stake in shares of Comtech Telecomm. by 56.9% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,765 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 640 shares during the period. Oberweis Asset Management Inc. boosted its stake in shares of Comtech Telecomm. by 1.1% in the fourth quarter. Oberweis Asset Management Inc. now owns 66,800 shares of the communications equipment provider’s stock valued at $1,626,000 after purchasing an additional 700 shares during the period. Texas Permanent School Fund boosted its stake in shares of Comtech Telecomm. by 5.2% in the fourth quarter. Texas Permanent School Fund now owns 15,644 shares of the communications equipment provider’s stock valued at $381,000 after purchasing an additional 768 shares during the period. United Services Automobile Association boosted its stake in shares of Comtech Telecomm. by 19.7% in the fourth quarter. United Services Automobile Association now owns 9,471 shares of the communications equipment provider’s stock valued at $231,000 after purchasing an additional 1,556 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Comtech Telecomm. by 6.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 31,435 shares of the communications equipment provider’s stock valued at $707,000 after purchasing an additional 2,009 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

In related news, VP John Branscum sold 1,158 shares of Comtech Telecomm. stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $25.16, for a total value of $29,135.28. Following the completion of the transaction, the vice president now owns 35,162 shares in the company, valued at $884,675.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.30% of the stock is owned by insiders.

Shares of Comtech Telecomm. stock opened at $23.51 on Tuesday. Comtech Telecomm. Corp. has a 52-week low of $20.94 and a 52-week high of $36.94. The company has a quick ratio of 1.53, a current ratio of 2.20 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $573.71 million, a P/E ratio of 17.49, a PEG ratio of 4.21 and a beta of 1.31.

Comtech Telecomm. (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, March 6th. The communications equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Comtech Telecomm. had a net margin of 4.21% and a return on equity of 6.56%. The company had revenue of $164.10 million during the quarter, compared to the consensus estimate of $159.96 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts anticipate that Comtech Telecomm. Corp. will post 1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Wednesday, April 17th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, April 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. Comtech Telecomm.’s dividend payout ratio is currently 53.33%.

CMTL has been the subject of several recent research reports. Zacks Investment Research raised shares of Comtech Telecomm. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 3rd. ValuEngine lowered shares of Comtech Telecomm. from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. BidaskClub lowered shares of Comtech Telecomm. from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Noble Financial reissued a “buy” rating and issued a $38.00 price objective on shares of Comtech Telecomm. in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $34.80.

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Comtech Telecomm. Company 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.

Read More: What is an SEC Filing?

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).

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

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