Comtech Telecommunications Corp. (NASDAQ:CMTL) Stake Cut by Barclays PLC

Barclays PLC cut its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 21.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,517 shares of the communications equipment provider’s stock after selling 8,195 shares during the quarter. Barclays PLC owned 0.10% of Comtech Telecommunications worth $147,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CMTL. XTX Topco Ltd lifted its stake in 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 purchasing an additional 64,659 shares during the last quarter. Point72 DIFC Ltd bought a new position in Comtech Telecommunications during the second quarter worth $37,000. Squarepoint Ops LLC lifted its stake in Comtech Telecommunications by 107.0% during the second quarter. Squarepoint Ops LLC now owns 89,070 shares of the communications equipment provider’s stock worth $270,000 after purchasing an additional 46,041 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Comtech Telecommunications during the second quarter worth $174,000. Finally, AQR Capital Management LLC lifted its stake in Comtech Telecommunications by 90.4% during 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 Price Performance

Shares of CMTL opened at $2.54 on Thursday. The company has a 50-day moving average of $3.43 and a two-hundred day moving average of $3.43. The stock has a market cap of $74.09 million, a price-to-earnings ratio of -0.26 and a beta of 1.52. Comtech Telecommunications Corp. has a one year low of $1.53 and a one year high of $7.77.

Comtech Telecommunications (NASDAQ:CMTL) last released its earnings results on Monday, January 13th. The communications equipment provider reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.88). Comtech Telecommunications had a negative net margin of 48.97% and a negative return on equity of 8.76%. Analysts anticipate that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd. B. Riley cut their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research note on Monday, November 4th.

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.