Aviat Networks, Inc. (NASDAQ:AVNW) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 57.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,278 shares of the communications equipment provider’s stock after selling 210,910 shares during the period. Wellington Management Group LLP owned 1.22% of Aviat Networks worth $3,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in Aviat Networks in the third quarter valued at approximately $589,000. Select Equity Group L.P. raised its holdings in shares of Aviat Networks by 8.7% during the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock valued at $10,907,000 after buying an additional 30,582 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after buying an additional 163,365 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Aviat Networks by 8.5% during 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 during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Aviat Networks by 183.9% during the third quarter. GSA Capital Partners LLP now owns 19,826 shares of the communications equipment provider’s stock valued at $429,000 after buying an additional 12,843 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Aviat Networks

In related news, CEO Pete A. Smith purchased 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were bought at an average price of $14.13 per share, with a total value of $42,390.00. Following the completion of the acquisition, the chief executive officer now owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael Connaway purchased 3,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the acquisition, the chief financial officer now directly owns 57,893 shares of the company’s stock, valued at $818,028.09. This represents a 6.43 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,400 shares of company stock valued at $106,110. Corporate insiders own 4.10% of the company’s stock.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $17.39 on Wednesday. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The stock has a market cap of $220.68 million, a price-to-earnings ratio of -56.10 and a beta of 1.72. The stock’s 50 day moving average price is $18.19 and its 200 day moving average price is $23.87. 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 (NASDAQ:AVNW) last posted its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $116.66 million for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. Equities research analysts anticipate that Aviat Networks, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVNW shares. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a report on Tuesday, October 8th. StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Northland Securities cut their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Lake Street Capital dropped their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, B. Riley dropped their target price on Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aviat Networks has an average rating of “Moderate Buy” and an average price target of $38.60.

Aviat Networks 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.