Barclays PLC Purchases 11,926 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

Barclays PLC raised its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 298.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,928 shares of the communications equipment provider’s stock after buying an additional 11,926 shares during the quarter. Barclays PLC owned 0.13% of Aviat Networks worth $344,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Aviat Networks in the third quarter valued at about $589,000. State Street Corp boosted its holdings in Aviat Networks by 1.6% in the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock valued at $5,141,000 after purchasing an additional 3,855 shares during the period. Select Equity Group L.P. grew its position in shares of Aviat Networks by 8.7% during the 2nd quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after purchasing an additional 30,582 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Aviat Networks by 59.1% during the third quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock worth $535,000 after purchasing an additional 9,186 shares during the period. Finally, Royce & Associates LP raised its position in shares of Aviat Networks by 8.5% in the third quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock valued at $15,063,000 after buying an additional 54,339 shares in the last quarter. Institutional investors own 78.62% of the company’s stock.

Insider Activity

In other Aviat Networks news, CFO Michael Connaway purchased 3,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the transaction, the chief financial officer now owns 57,893 shares in the company, valued at $818,028.09. The trade was a 6.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Pete A. Smith bought 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the acquisition, the chief executive officer now directly owns 298,539 shares in the company, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,400 shares of company stock worth $106,110. Insiders own 4.10% of the company’s stock.

Aviat Networks Stock Down 0.9 %

Shares of NASDAQ AVNW opened at $19.10 on Monday. The stock has a 50-day moving average price of $16.99 and a two-hundred day moving average price of $22.03. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The company has a market cap of $242.38 million, a price-to-earnings ratio of -61.61 and a beta of 1.69.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Lake Street Capital lowered their price objective on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Tuesday, October 8th. Northland Securities decreased their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, Roth Mkm cut their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.