BlueCrest Capital Management Ltd Invests $342,000 in Comtech Telecomm. Corp. (CMTL)
BlueCrest Capital Management Ltd bought a new stake in Comtech Telecomm. Corp. (NASDAQ:CMTL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 15,448 shares of the communications equipment provider’s stock, valued at approximately $342,000. BlueCrest Capital Management Ltd owned about 0.07% of Comtech Telecomm. at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMTL. Macquarie Group Ltd. bought a new position in Comtech Telecomm. during the 3rd quarter valued at approximately $116,000. Russell Investments Group Ltd. bought a new position in Comtech Telecomm. during the 3rd quarter valued at approximately $117,000. SG Americas Securities LLC bought a new position in Comtech Telecomm. during the 3rd quarter valued at approximately $156,000. Teachers Retirement System of The State of Kentucky raised its position in Comtech Telecomm. by 182.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 8,200 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in Comtech Telecomm. by 58.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the communications equipment provider’s stock valued at $181,000 after purchasing an additional 3,270 shares during the last quarter. 87.86% of the stock is owned by institutional investors.
In other Comtech Telecomm. news, insider Richard L. Burt sold 82,700 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $30.46, for a total transaction of $2,519,042.00. Following the transaction, the insider now owns 178,315 shares in the company, valued at approximately $5,431,474.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.00% of the stock is currently owned by corporate insiders.
Comtech Telecomm. (NASDAQ:CMTL) last posted its earnings results on Wednesday, March 7th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.15. Comtech Telecomm. had a return on equity of 2.20% and a net margin of 4.87%. The firm had revenue of $133.70 million for the quarter, compared to the consensus estimate of $124.65 million. During the same quarter in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. equities research analysts forecast that Comtech Telecomm. Corp. will post 0.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Wednesday, April 18th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%. Comtech Telecomm.’s dividend payout ratio (DPR) is 36.70%.
CMTL has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Comtech Telecomm. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Northland Securities set a $26.00 price target on Comtech Telecomm. and gave the company a “buy” rating in a research report on Sunday, December 10th. BMO Capital Markets upped their price target on Comtech Telecomm. to $26.00 and gave the company an “outperform” rating in a research report on Friday, December 8th. BidaskClub lowered Comtech Telecomm. from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Finally, Noble Financial reaffirmed an “average” rating on shares of Comtech Telecomm. in a research report on Friday, March 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Comtech Telecomm. currently has a consensus rating of “Buy” and a consensus target price of $25.10.
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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 operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.
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