Royce & Associates LP Purchases 256,530 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Royce & Associates LP lifted its position in Comtech Telecommunications Corp. (NASDAQ:CMTL - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,582,138 shares of the communications equipment provider's stock after purchasing an additional 256,530 shares during the quarter. Royce & Associates LP owned about 5.39% of Comtech Telecommunications worth $2,531,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CMTL. Cubist Systematic Strategies LLC bought a new position in shares of Comtech Telecommunications in the fourth quarter worth $27,000. Williams Jones Wealth Management LLC. bought a new position in Comtech Telecommunications in the fourth quarter valued at $40,000. Marshall Wace LLP bought a new position in Comtech Telecommunications in the fourth quarter valued at $44,000. Cetera Investment Advisers bought a new position in Comtech Telecommunications in the fourth quarter valued at $60,000. Finally, Gamco Investors INC. ET AL bought a new position in Comtech Telecommunications in the fourth quarter valued at $68,000.

Comtech Telecommunications Stock Down 1.3%

CMTL opened at $2.27 on Monday. The stock has a market cap of $66.74 million, a PE ratio of -0.23 and a beta of 1.24. Comtech Telecommunications Corp. has a 52 week low of $1.19 and a 52 week high of $5.16. The business's fifty day simple moving average is $2.33 and its 200 day simple moving average is $2.02.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.08. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. The business had revenue of $126.79 million during the quarter, compared to analyst estimates of $124.12 million. As a group, equities analysts anticipate that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current year.

Analyst Ratings Changes

Separately, B. Riley reduced their target price on Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th.

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.

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