Rhumbline Advisers Sells 28,168 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Rhumbline Advisers cut its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 65.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,138 shares of the communications equipment provider’s stock after selling 28,168 shares during the period. Rhumbline Advisers owned about 0.05% of Comtech Telecommunications worth $46,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMTL. Archon Capital Management LLC lifted its holdings in Comtech Telecommunications by 15.4% during the first quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock valued at $5,678,000 after purchasing an additional 221,380 shares during the last quarter. Vanguard Group Inc. boosted its position in Comtech Telecommunications by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock valued at $4,993,000 after acquiring an additional 10,111 shares in the last quarter. Invenomic Capital Management LP boosted its holdings in shares of Comtech Telecommunications by 369.1% during the 1st quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider’s stock valued at $3,039,000 after buying an additional 697,248 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Comtech Telecommunications during the first quarter valued at approximately $2,651,000. Finally, Penn Mutual Asset Management LLC bought a new position in shares of Comtech Telecommunications during the fourth quarter valued at $2,898,000.

Comtech Telecommunications Stock Down 7.1 %

Shares of CMTL stock opened at $4.47 on Wednesday. Comtech Telecommunications Corp. has a 12 month low of $1.53 and a 12 month high of $13.04. The company has a 50 day simple moving average of $3.33 and a two-hundred day simple moving average of $2.89. The company has a current ratio of 1.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.39. The stock has a market cap of $127.36 million, a P/E ratio of -3.17, a P/E/G ratio of 1.60 and a beta of 1.58.

Analysts Set New Price Targets

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

Comtech Telecommunications Profile

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.