Invenomic Capital Management LP Purchases 697,248 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Invenomic Capital Management LP grew its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 369.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 886,135 shares of the communications equipment provider’s stock after acquiring an additional 697,248 shares during the quarter. Invenomic Capital Management LP owned about 3.11% of Comtech Telecommunications worth $3,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oak Thistle LLC purchased a new position in Comtech Telecommunications in the first quarter worth about $66,000. Oxford Asset Management LLP purchased a new position in shares of Comtech Telecommunications during the 4th quarter valued at about $105,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Comtech Telecommunications during the 4th quarter valued at about $187,000. D.A. Davidson & CO. purchased a new position in shares of Comtech Telecommunications during the 4th quarter valued at about $189,000. Finally, Empowered Funds LLC lifted its position in shares of Comtech Telecommunications by 8.2% during the 1st quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 5,765 shares in the last quarter.

Comtech Telecommunications Price Performance

NASDAQ:CMTL traded up $0.16 during trading hours on Wednesday, reaching $3.38. The stock had a trading volume of 137,388 shares, compared to its average volume of 1,310,873. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.78. Comtech Telecommunications Corp. has a 52 week low of $1.53 and a 52 week high of $13.04. The company has a 50 day moving average price of $2.91 and a two-hundred day moving average price of $3.90. The stock has a market capitalization of $96.30 million, a PE ratio of -2.33, a PEG ratio of 5.19 and a beta of 1.59.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings data on Tuesday, June 18th. The communications equipment provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.01 by $0.18. Comtech Telecommunications had a positive return on equity of 3.70% and a negative net margin of 2.26%. The company had revenue of $128.08 million for the quarter, compared to the consensus estimate of $136.42 million. As a group, sell-side analysts anticipate that Comtech Telecommunications Corp. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 target price on the stock in a research note on Tuesday, June 25th.

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.