Royce & Associates LP Has $2.53 Million Holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Key Points

• Royce & Associates LP increased its holdings in Comtech Telecommunications Corp. by 19.4%, acquiring an additional 256,530 shares and totaling 1,582,138 shares worth approximately $2.53 million.
• CMTL's stock had a market cap of $66.74 million, opening at $2.27, with a 52-week range between $1.19 and $5.16.
• In its latest earnings report, Comtech Telecommunications surpassed estimates with a reported loss of ($0.22) EPS, while revenue was $126.79 million compared to estimates of $124.12 million.

Royce & Associates LP lifted its holdings in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL - Free Report) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 5.39% of Comtech Telecommunications worth $2,531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Comtech Telecommunications in the fourth quarter valued at approximately $27,000. Williams Jones Wealth Management LLC. acquired a new position in Comtech Telecommunications during the fourth quarter worth approximately $40,000. Marshall Wace LLP acquired a new position in Comtech Telecommunications during the fourth quarter worth approximately $44,000. Cetera Investment Advisers acquired a new position in shares of Comtech Telecommunications during the 4th quarter worth approximately $60,000. Finally, Gamco Investors INC. ET AL acquired a new position in Comtech Telecommunications in the 4th quarter valued at about $68,000.

Analyst Upgrades and Downgrades

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

Comtech Telecommunications Trading Down 1.6%

Shares of NASDAQ:CMTL traded down $0.04 on Thursday, reaching $2.16. 110,797 shares of the company's stock were exchanged, compared to its average volume of 365,266. The company has a fifty day moving average of $2.34 and a 200-day moving average of $2.01. Comtech Telecommunications Corp. has a twelve month low of $1.19 and a twelve month high of $5.16. The company has a market capitalization of $63.36 million, a price-to-earnings ratio of -0.22 and a beta of 1.24.

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

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.