Comtech Telecommunications Corp. (NASDAQ:CMTL) Shares Sold by Barclays PLC

Barclays PLC decreased its holdings in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 21.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,517 shares of the communications equipment provider’s stock after selling 8,195 shares during the period. Barclays PLC’s holdings in Comtech Telecommunications were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Needham Investment Management LLC lifted its position in shares of Comtech Telecommunications by 17.8% in the third quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock valued at $7,227,000 after acquiring an additional 227,500 shares in the last quarter. Royce & Associates LP purchased a new position in Comtech Telecommunications in the third quarter worth approximately $4,759,000. Pacific Ridge Capital Partners LLC increased its position in shares of Comtech Telecommunications by 21.8% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock worth $1,704,000 after purchasing an additional 100,577 shares during the last quarter. Penn Mutual Asset Management increased its position in shares of Comtech Telecommunications by 62.7% during the third quarter. Penn Mutual Asset Management now owns 332,004 shares of the communications equipment provider’s stock valued at $1,597,000 after acquiring an additional 128,000 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Comtech Telecommunications by 90.4% in the 2nd quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock valued at $629,000 after purchasing an additional 98,479 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CMTL shares. StockNews.com upgraded shares of Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd. B. Riley cut their price target 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 Stock Down 7.4 %

CMTL opened at $4.15 on Wednesday. The stock has a market capitalization of $120.87 million, a P/E ratio of -0.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.83. Comtech Telecommunications Corp. has a one year low of $1.53 and a one year high of $8.37. The business’s 50-day simple moving average is $3.40 and its 200-day simple moving average is $3.44.

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.