Nkcfo LLC Reduces Holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Nkcfo LLC trimmed its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 50.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 50,000 shares of the communications equipment provider’s stock after selling 50,000 shares during the quarter. Nkcfo LLC’s holdings in Comtech Telecommunications were worth $80,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Needham Investment Management LLC boosted its stake in Comtech Telecommunications by 18.5% during the fourth quarter. Needham Investment Management LLC now owns 1,780,000 shares of the communications equipment provider’s stock worth $7,138,000 after buying an additional 277,500 shares during the period. Royce & Associates LP boosted its stake in Comtech Telecommunications by 19.4% during the first quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider’s stock worth $2,531,000 after buying an additional 256,530 shares during the period. Balyasny Asset Management L.P. boosted its stake in Comtech Telecommunications by 12.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,339,842 shares of the communications equipment provider’s stock worth $5,373,000 after buying an additional 143,225 shares during the period. Bank of America Corp DE boosted its stake in Comtech Telecommunications by 7.9% during the fourth quarter. Bank of America Corp DE now owns 109,194 shares of the communications equipment provider’s stock worth $438,000 after buying an additional 8,006 shares during the period. Finally, Northern Trust Corp boosted its stake in Comtech Telecommunications by 13.8% during the fourth quarter. Northern Trust Corp now owns 91,225 shares of the communications equipment provider’s stock worth $366,000 after buying an additional 11,062 shares during the period.

Analysts Set New Price Targets

Separately, B. Riley dropped their price objective on shares of Comtech Telecommunications from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, June 10th.

Comtech Telecommunications Trading Down 1.3%

NASDAQ:CMTL opened at $2.27 on Monday. Comtech Telecommunications Corp. has a twelve month low of $1.19 and a twelve month high of $5.16. The company has a market cap of $66.74 million, a price-to-earnings ratio of -0.23 and a beta of 1.24. The stock has a fifty day simple moving average of $2.33 and a 200-day simple moving average of $2.02.

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