Barclays PLC Decreases Stake in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Barclays PLC lessened its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,517 shares of the communications equipment provider’s stock after selling 8,195 shares during the period. Barclays PLC owned approximately 0.11% of Comtech Telecommunications worth $147,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. XTX Topco Ltd lifted its stake in shares of Comtech Telecommunications by 306.2% during the second quarter. XTX Topco Ltd now owns 85,779 shares of the communications equipment provider’s stock worth $260,000 after buying an additional 64,659 shares during the period. Point72 DIFC Ltd acquired a new stake in Comtech Telecommunications during the 2nd quarter worth about $37,000. Squarepoint Ops LLC grew its stake in Comtech Telecommunications by 107.0% during the 2nd quarter. Squarepoint Ops LLC now owns 89,070 shares of the communications equipment provider’s stock valued at $270,000 after purchasing an additional 46,041 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Comtech Telecommunications in the second quarter valued at about $174,000. Finally, AQR Capital Management LLC raised its stake in shares of Comtech Telecommunications by 90.4% in the second quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock worth $629,000 after purchasing an additional 98,479 shares during the last quarter.

Comtech Telecommunications Stock Down 7.4 %

Shares of CMTL opened at $4.15 on Wednesday. The stock’s 50-day moving average price is $3.40 and its 200-day moving average price is $3.44. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $120.87 million, a price-to-earnings ratio of -0.88 and a beta of 1.52. Comtech Telecommunications Corp. has a 52 week low of $1.53 and a 52 week high of $8.37.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMTL. B. Riley dropped their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded shares of Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd.

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.