Eqis Capital Management Inc. Takes $315,000 Position in Comtech Telecomm. Corp. (NASDAQ:CMTL)

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Eqis Capital Management Inc. acquired a new position in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,677 shares of the communications equipment provider’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Comtech Telecomm. by 6.6% during the third quarter. Rhumbline Advisers now owns 76,892 shares of the communications equipment provider’s stock worth $2,499,000 after purchasing an additional 4,771 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Comtech Telecomm. by 2.1% during the second quarter. Pacific Ridge Capital Partners LLC now owns 270,050 shares of the communications equipment provider’s stock worth $7,591,000 after purchasing an additional 5,504 shares during the last quarter. BlackRock Inc. lifted its stake in Comtech Telecomm. by 1.4% during the second quarter. BlackRock Inc. now owns 3,693,900 shares of the communications equipment provider’s stock worth $103,837,000 after purchasing an additional 51,581 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in Comtech Telecomm. during the third quarter worth $1,663,000. Finally, Nuveen Asset Management LLC bought a new position in Comtech Telecomm. during the second quarter worth $11,076,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.

Shares of NASDAQ CMTL opened at $36.02 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.93 and a quick ratio of 1.41. Comtech Telecomm. Corp. has a 1-year low of $20.94 and a 1-year high of $36.96. The firm has a market capitalization of $873.41 million, a PE ratio of 26.88, a P/E/G ratio of 4.96 and a beta of 1.51. The business’s fifty day moving average price is $33.02 and its two-hundred day moving average price is $28.21.

Comtech Telecomm. (NASDAQ:CMTL) last released its quarterly earnings results on Tuesday, September 24th. The communications equipment provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.08. Comtech Telecomm. had a return on equity of 6.29% and a net margin of 3.73%. The business had revenue of $176.40 million during the quarter, compared to analyst estimates of $164.89 million. During the same quarter last year, the company posted $0.31 EPS. Comtech Telecomm.’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts expect that Comtech Telecomm. Corp. will post 1.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Wednesday, October 16th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.11%. Comtech Telecomm.’s dividend payout ratio (DPR) is 29.85%.

In related news, VP Richard L. Burt sold 40,703 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $34.33, for a total value of $1,397,333.99. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.30% of the company’s stock.

CMTL has been the topic of several research analyst reports. BidaskClub upgraded Comtech Telecomm. from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 2nd. ValuEngine upgraded Comtech Telecomm. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Northland Securities restated a “buy” rating and set a $42.00 price objective on shares of Comtech Telecomm. in a research note on Wednesday, September 25th. Zacks Investment Research cut Comtech Telecomm. from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Citigroup raised their price objective on Comtech Telecomm. from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $36.50.

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.

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

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