Van ECK Associates Corp Has $119,000 Stake in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Van ECK Associates Corp grew its stake in Comtech Telecommunications Corp. (NASDAQ:CMTLGet Rating) by 54.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,935 shares of the communications equipment provider’s stock after purchasing an additional 4,197 shares during the period. Van ECK Associates Corp’s holdings in Comtech Telecommunications were worth $119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMTL. Royce & Associates LP grew its position in Comtech Telecommunications by 16.4% in the 2nd quarter. Royce & Associates LP now owns 987,348 shares of the communications equipment provider’s stock worth $8,955,000 after purchasing an additional 138,900 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Comtech Telecommunications by 130.9% during the 1st quarter. Gabelli Funds LLC now owns 170,423 shares of the communications equipment provider’s stock valued at $2,674,000 after acquiring an additional 96,602 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Comtech Telecommunications during the 1st quarter valued at about $2,305,000. Employees Retirement System of Texas boosted its position in shares of Comtech Telecommunications by 193.0% during the 1st quarter. Employees Retirement System of Texas now owns 126,000 shares of the communications equipment provider’s stock valued at $1,977,000 after acquiring an additional 83,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Comtech Telecommunications by 214.4% during the 1st quarter. JPMorgan Chase & Co. now owns 117,487 shares of the communications equipment provider’s stock valued at $1,844,000 after acquiring an additional 80,120 shares in the last quarter. 72.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ken Allen Peterman bought 44,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was bought at an average cost of $12.75 per share, with a total value of $561,000.00. Following the completion of the purchase, the chief executive officer now owns 44,000 shares in the company, valued at approximately $561,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMTL. StockNews.com upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, December 16th. Citigroup lifted their target price on shares of Comtech Telecommunications from $12.00 to $14.50 and gave the company a “neutral” rating in a research report on Monday, December 12th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.17.

Comtech Telecommunications Trading Up 5.0 %

Shares of CMTL stock opened at $14.12 on Friday. Comtech Telecommunications Corp. has a 12-month low of $8.42 and a 12-month high of $22.03. The company has a market capitalization of $392.18 million, a P/E ratio of -8.46 and a beta of 1.62. The firm has a 50-day moving average price of $12.36 and a 200 day moving average price of $11.33. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.33.

Comtech Telecommunications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Wednesday, January 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, January 17th. Comtech Telecommunications’s dividend payout ratio is currently -23.95%.

Comtech Telecommunications Profile

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Comtech Telecommunications Corp., together with its subsidiaries, designs, develops, produces, and markets products, systems, and services for communications solutions in the United States and internationally. It operates in two segments, Commercial Solutions and Government Solutions. The Commercial Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters, and network software to modulate, demodulate, and amplify signals, as well as to carry voice, video, and/or data over networks; and public safety and location technologies, such as 911 call handling and mapping solutions that allow cellular carriers and voice over the Internet carriers to deliver emergency calls to public safety emergency call centers.

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Institutional Ownership by Quarter for Comtech Telecommunications (NASDAQ:CMTL)

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