Comtech Telecommunications Corp. (NASDAQ:CMTL) Shares Purchased by Needham Investment Management LLC

Needham Investment Management LLC raised its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 18.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,780,000 shares of the communications equipment provider’s stock after purchasing an additional 277,500 shares during the quarter. Needham Investment Management LLC owned about 0.06% of Comtech Telecommunications worth $7,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMTL. Cubist Systematic Strategies LLC acquired a new stake in Comtech Telecommunications during the fourth quarter valued at approximately $27,000. Marshall Wace LLP acquired a new stake in Comtech Telecommunications during the fourth quarter valued at approximately $44,000. Cetera Investment Advisers acquired a new stake in Comtech Telecommunications during the fourth quarter valued at approximately $60,000. Gamco Investors INC. ET AL acquired a new stake in Comtech Telecommunications during the fourth quarter valued at approximately $68,000. Finally, Jump Financial LLC acquired a new stake in Comtech Telecommunications during the fourth quarter valued at approximately $91,000.

Comtech Telecommunications Stock Up 2.7%

Shares of NASDAQ CMTL opened at $1.52 on Tuesday. The stock’s 50 day moving average price is $1.57 and its two-hundred day moving average price is $2.46. The stock has a market capitalization of $44.61 million, a P/E ratio of -0.15 and a beta of 1.00. Comtech Telecommunications Corp. has a 52-week low of $1.19 and a 52-week high of $5.16.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings results on Wednesday, March 12th. The communications equipment provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The company had revenue of $126.57 million for the quarter, compared to analyst estimates of $117.00 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%. On average, analysts anticipate that Comtech Telecommunications Corp. will post -2.38 EPS for the current year.

Comtech Telecommunications 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.