Paradigm Capital Management Inc. NY Lowers Holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Paradigm Capital Management Inc. NY lowered its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,053,200 shares of the communications equipment provider’s stock after selling 40,000 shares during the period. Paradigm Capital Management Inc. NY owned about 3.70% of Comtech Telecommunications worth $3,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in Comtech Telecommunications during the 4th quarter worth about $187,000. D.A. Davidson & CO. purchased a new position in Comtech Telecommunications during the fourth quarter valued at approximately $189,000. Penn Mutual Asset Management LLC bought a new position in Comtech Telecommunications in the fourth quarter worth approximately $2,898,000. Invenomic Capital Management LP bought a new position in Comtech Telecommunications in the fourth quarter worth approximately $1,592,000. Finally, Quadrature Capital Ltd boosted its position in Comtech Telecommunications by 42.3% during the 4th quarter. Quadrature Capital Ltd now owns 33,058 shares of the communications equipment provider’s stock valued at $278,000 after acquiring an additional 9,831 shares in the last quarter.

Comtech Telecommunications Trading Up 19.0 %

NASDAQ CMTL opened at $4.51 on Tuesday. Comtech Telecommunications Corp. has a 52 week low of $1.53 and a 52 week high of $13.04. The company has a 50 day moving average price of $3.19 and a 200 day moving average price of $2.92. The company has a quick ratio of 1.28, a current ratio of 1.78 and a debt-to-equity ratio of 0.39. The firm has a market cap of $128.50 million, a PE ratio of -3.20, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 price target for the company in a research report on Tuesday, June 25th.

About Comtech Telecommunications

Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company’s Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.