GSA Capital Partners LLP Boosts Stake in Aviat Networks, Inc. (NASDAQ:AVNW)

GSA Capital Partners LLP lifted its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 183.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,826 shares of the communications equipment provider’s stock after purchasing an additional 12,843 shares during the period. GSA Capital Partners LLP owned 0.16% of Aviat Networks worth $429,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Aviat Networks in the 2nd quarter worth $29,000. NBC Securities Inc. bought a new position in Aviat Networks in the 3rd quarter worth $62,000. BNP Paribas Financial Markets boosted its holdings in Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after buying an additional 2,513 shares during the period. Truvestments Capital LLC boosted its holdings in shares of Aviat Networks by 26.2% during the 1st quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 2,213 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. bought a new position in shares of Aviat Networks during the 1st quarter valued at about $562,000. Institutional investors own 78.62% of the company’s stock.

Wall Street Analysts Forecast Growth

AVNW has been the subject of several research reports. B. Riley dropped their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. Northland Securities dropped their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. Lake Street Capital lowered their price target on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, Aviat Networks currently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Aviat Networks Stock Performance

Aviat Networks stock opened at $14.45 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. Aviat Networks, Inc. has a 1-year low of $12.95 and a 1-year high of $38.85. The firm has a market capitalization of $183.37 million, a P/E ratio of -46.61 and a beta of 1.81. The company’s 50-day moving average is $20.03 and its 200 day moving average is $25.79.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The company had revenue of $116.66 million for the quarter. Research analysts forecast that Aviat Networks, Inc. will post 1.13 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael Connaway bought 3,500 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $14.13 per share, with a total value of $49,455.00. Following the completion of 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Pete A. Smith bought 3,000 shares of Aviat Networks stock in a transaction dated 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 transaction, the chief executive officer now owns 298,539 shares of the company’s stock, 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. 4.10% of the stock is currently owned by corporate insiders.

About Aviat Networks

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.