First Eagle Investment Management has reported a reduction in its holding of Comtech Telecommunications Corp (NASDAQ:CMTL) in a recently amended filing with the Securities and Exchange Commission. The fund now holds approximately 1.02 million shares, down from 1.22 million shares reported in its latest 13F filing. First Eagle’s current position amounts to 4.36% of Comtech’s outstanding stock.
A manufacturer of communication equipment, Comtech Telecommunications Corp (NASDAQ:CMTL) has a market cap of approximately $300 million and pays an annual dividend of $1.20 per share, providing investors with a juicy 9.40% yield. Although it was trending sideways, the stock was up by 16% in the beginning of June right up until the results for the 2016 third fiscal quarter were announced. The company swung to a loss of $0.89 per share, having reported earnings of $0.30 per share a year earlier. Net sales rose by 73% to $124.2 million. Investors reacted negatively to the news and pushing the stock down by more than 40% since then.
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Although Comtech Telecommunications Corp (NASDAQ:CMTL) was not a very popular stock to begin with, its popularity among the funds followed by Insider Monkey further decreased during the first quarter. The number of funds invested fell to 14 at the end of March, from 16 recorded a quarter before. Jim Simons’ mathematical models issued a positive signal on Comtech Telecommunications, as Renaissance Technologies boosted its investment by 21% to 396,150 shares as reported in its latest 13F filing.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| F | 1,017,323 | 4.36% |
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Page 1 of 3 – SEC Filing
UNITED STATES SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G/A
(RULE 13d-102)
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Information to be included in statements filed
pursuant to Rule 13d-1 (b) (c) and (d) and Amendments thereto
filed pursuant to Rule 13d-2 (b).
Comtech Telecommunications Corp
(Name of Issuer)
Common Shares
(Title of Class of Securities)
205826209
(CUSIP Number)
June 17, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:
[X] Rule 13d-1 (b)
[ ] Rule 13d-1 (c)
[ ] Rule 13d-1 (d)
*The remainder of this cover page shall be filled out for a
reporting person’s initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page shall
not be deemed to be “filed” for the purpose of Section 18 of the Securities
Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
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Page 2 of 3 – SEC Filing
SCHEDULE 13G/A
Issuer: Comtech Telecommunications Corp CUSIP No.: 205826209
ITEM 1
(a) Name of Issuer:
Comtech Telecommunications Corp
(b) Address of Issuer’s Principal Executive Offices:
68 South Service Road, Suite 230
Melville, NY 11747
ITEM 2
(a) Name of Person Filing: First Eagle Investment Management, LLC
(b) Address of Principal Business Office:
1345 Avenue of the Americas
New York, NY 10105
(c) Citizenship: Delaware, USA (Place of Incorporation)
(d) Title of Class of Securities: Common Shares
(e) CUSIP Number: 205826209
SCHEDULE 13G/A
Issuer: Comtech Telecommunications Corp CUSIP No.: 205826209
ITEM 3
If this statement is filed pursuant to Sections 240.
13d-1(b), or 240.13d-2(b) or (c), check whether
the person filing is a:
(a) [ ] Broker or dealer registered under
Section 15 of the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c) [ ] Insurance Company as defined in section
3(a)(19) of the Act (15 U.S.C. 78C);
(d) [ ] Investment company registered under Section
8 of the Investment Company Act if 1940
(15 U.S.C. 80a-8);
(e) [X] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the
definition of an insurance company under Section 3 (c)(14) of
the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with section 240.13d-1 (b)(1)(ii)(J).
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Page 3 of 3 – SEC Filing
Issuer: Comtech Telecommunications Corp CUSIP No.: 205826209
ITEM 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of such securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose
or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Date: July 1, 2016
Signature: /s/ Mark Goldstein
Name/Title: Mark Goldstein, Senior Vice President
