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Comtech Telecommunications Corp. (NASDAQ:CMTL) Shares Sold by Invenomic Capital Management LP

Comtech Telecommunications logo with Computer and Technology background

Invenomic Capital Management LP cut its stake in Comtech Telecommunications Corp. (NASDAQ:CMTL - Free Report) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 731,168 shares of the communications equipment provider's stock after selling 136,681 shares during the quarter. Invenomic Capital Management LP owned about 2.53% of Comtech Telecommunications worth $3,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Comtech Telecommunications by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider's stock worth $4,993,000 after buying an additional 10,111 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Comtech Telecommunications during the second quarter worth $174,000. Virtu Financial LLC purchased a new stake in shares of Comtech Telecommunications during the first quarter valued at $81,000. AQR Capital Management LLC grew its holdings in shares of Comtech Telecommunications by 90.4% in the second quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider's stock worth $629,000 after purchasing an additional 98,479 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Comtech Telecommunications during the 2nd quarter valued at about $37,000.

Analysts Set New Price Targets

A number of brokerages have commented on CMTL. B. Riley dropped 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 Comtech Telecommunications to a "sell" rating in a report on Tuesday, November 12th.

View Our Latest Analysis on CMTL

Comtech Telecommunications Stock Performance

Shares of CMTL traded down $0.08 during trading hours on Wednesday, reaching $3.58. 152,202 shares of the company traded hands, compared to its average volume of 969,688. The stock has a market capitalization of $104.25 million, a P/E ratio of -0.78 and a beta of 1.57. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $3.61 and a 200-day moving average price of $3.24. Comtech Telecommunications Corp. has a 12-month low of $1.53 and a 12-month high of $12.51.

Comtech Telecommunications Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comtech Telecommunications (NASDAQ:CMTL)

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