Penn Mutual Asset Management Buys 128,000 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Penn Mutual Asset Management boosted its position in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 62.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 332,004 shares of the communications equipment provider’s stock after purchasing an additional 128,000 shares during the quarter. Comtech Telecommunications comprises approximately 3.2% of Penn Mutual Asset Management’s investment portfolio, making the stock its 7th largest position. Penn Mutual Asset Management’s holdings in Comtech Telecommunications were worth $1,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Needham Investment Management LLC boosted its holdings in Comtech Telecommunications by 17.8% in the 3rd quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock valued at $7,227,000 after purchasing an additional 227,500 shares during the last quarter. Vanguard Group Inc. increased its stake in Comtech Telecommunications by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock worth $4,993,000 after acquiring an additional 10,111 shares during the last quarter. Royce & Associates LP purchased a new stake in Comtech Telecommunications in the third quarter valued at $4,759,000. Pacific Ridge Capital Partners LLC lifted its stake in shares of Comtech Telecommunications by 21.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock valued at $1,704,000 after purchasing an additional 100,577 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Comtech Telecommunications by 90.4% during the 2nd 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.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. B. Riley decreased their price objective on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a research report on Tuesday, November 12th.

Comtech Telecommunications Stock Down 0.8 %

Comtech Telecommunications stock opened at $3.66 on Wednesday. The stock’s fifty day moving average is $3.63 and its two-hundred day moving average is $3.22. The stock has a market cap of $106.58 million, a PE ratio of -0.78 and a beta of 1.57. Comtech Telecommunications Corp. has a 1-year low of $1.53 and a 1-year high of $12.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 1.33.

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.