Dimensional Fund Advisors LP Trims Stake in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Dimensional Fund Advisors LP trimmed its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 24.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 986,633 shares of the communications equipment provider’s stock after selling 310,917 shares during the period. Dimensional Fund Advisors LP owned about 3.46% of Comtech Telecommunications worth $2,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in shares of Comtech Telecommunications during the first quarter worth $66,000. Virtu Financial LLC purchased a new position in shares of Comtech Telecommunications during the first quarter worth approximately $81,000. Summit Securities Group LLC bought a new stake in shares of Comtech Telecommunications during the second quarter valued at approximately $82,000. FourWorld Capital Management LLC bought a new position in Comtech Telecommunications in the first quarter worth approximately $153,000. Finally, Empowered Funds LLC increased its holdings in Comtech Telecommunications by 8.2% during the 1st quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 5,765 shares during the period.

Comtech Telecommunications Stock Down 4.0 %

NASDAQ:CMTL opened at $4.35 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.78. The stock has a market capitalization of $123.94 million, a P/E ratio of -3.09, a P/E/G ratio of 1.60 and a beta of 1.59. The company’s 50-day simple moving average is $3.50 and its 200-day simple moving average is $2.94. Comtech Telecommunications Corp. has a fifty-two week low of $1.53 and a fifty-two week high of $13.04.

Analyst Upgrades and Downgrades

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

Comtech Telecommunications Company 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.