Gabelli Funds LLC Sells 12,087 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Gabelli Funds LLC lowered its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 23.6% in the second quarter, HoldingsChannel reports. The fund owned 39,165 shares of the communications equipment provider’s stock after selling 12,087 shares during the period. Gabelli Funds LLC’s holdings in Comtech Telecommunications were worth $119,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CMTL. Wasatch Advisors LP bought a new stake in Comtech Telecommunications during the 1st quarter worth about $2,651,000. Invenomic Capital Management LP raised its stake in shares of Comtech Telecommunications by 369.1% during the first quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider’s stock worth $3,039,000 after buying an additional 697,248 shares during the last quarter. Penn Mutual Asset Management LLC acquired a new position in Comtech Telecommunications in the fourth quarter valued at approximately $2,898,000. Archon Capital Management LLC boosted its stake in Comtech Telecommunications by 15.4% in the first quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock valued at $5,678,000 after acquiring an additional 221,380 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Comtech Telecommunications by 306.2% during the 2nd quarter. XTX Topco Ltd now owns 85,779 shares of the communications equipment provider’s stock worth $260,000 after acquiring an additional 64,659 shares during the period.

Comtech Telecommunications Stock Performance

Shares of CMTL stock opened at $4.20 on Friday. The stock has a market cap of $119.67 million, a PE ratio of -2.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.58. The stock has a 50-day moving average of $3.27 and a 200-day moving average of $2.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.78 and a quick ratio of 1.28. Comtech Telecommunications Corp. has a one year low of $1.53 and a one year high of $13.04.

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 price target on the stock in a research note on Tuesday, June 25th.

Comtech Telecommunications Company 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.