Charles Schwab Investment Management Inc. Sells 214,908 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Charles Schwab Investment Management Inc. cut its holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL - Free Report) by 55.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,315 shares of the communications equipment provider's stock after selling 214,908 shares during the period. Charles Schwab Investment Management Inc. owned 0.60% of Comtech Telecommunications worth $834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd purchased a new stake in shares of Comtech Telecommunications in the 3rd quarter worth $28,000. B. Riley Wealth Advisors Inc. purchased a new stake in Comtech Telecommunications in the second quarter worth about $31,000. Point72 DIFC Ltd bought a new position in shares of Comtech Telecommunications in the second quarter worth about $37,000. Summit Securities Group LLC purchased a new position in shares of Comtech Telecommunications during the 2nd quarter valued at about $82,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Comtech Telecommunications during the 2nd quarter valued at approximately $174,000.

Comtech Telecommunications Price Performance

Shares of NASDAQ:CMTL traded down $0.11 during trading on Thursday, hitting $3.01. 323,812 shares of the company's stock were exchanged, compared to its average volume of 942,847. The business's 50-day simple moving average is $3.37 and its 200 day simple moving average is $3.31. The company has a market cap of $87.67 million, a price-to-earnings ratio of -0.64 and a beta of 1.57. Comtech Telecommunications Corp. has a 52-week low of $1.53 and a 52-week high of $8.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 1.33.

Analyst Ratings Changes

A number of research firms have commented on CMTL. B. Riley decreased their target price on shares of Comtech Telecommunications from $12.25 to $9.25 and set a "buy" rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded shares of Comtech Telecommunications to a "sell" rating in a research report on Tuesday, November 12th.

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.