Jacobs Levy Equity Management Inc. Takes Position in Aviat Networks, Inc. $AVNW

Key Points

• Jacobs Levy Equity Management Inc. acquired 197,352 shares of Aviat Networks, valued at approximately $3.78 million, representing a 1.55% ownership stake as of the latest SEC filing.
• Several hedge funds increased their holdings in Aviat Networks during the fourth quarter, with Bank of America Corp DE boosting its stake by 125.4%.
• Aviat Networks' stock currently has a market cap of $285.02 million, with a 12-month price range between $12.95 and $26.83.

Jacobs Levy Equity Management Inc. purchased a new position in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 197,352 shares of the communications equipment provider's stock, valued at approximately $3,783,000. Jacobs Levy Equity Management Inc. owned 1.55% of Aviat Networks as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Aviat Networks during the 1st quarter valued at $3,366,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Aviat Networks during the 1st quarter valued at $3,120,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Aviat Networks during the 4th quarter valued at $1,870,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Aviat Networks by 148.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,485 shares of the communications equipment provider's stock valued at $2,233,000 after acquiring an additional 69,521 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Aviat Networks by 2,524.9% during the 1st quarter. GAMMA Investing LLC now owns 49,689 shares of the communications equipment provider's stock valued at $953,000 after acquiring an additional 47,796 shares during the period. Institutional investors and hedge funds own 78.62% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Aviat Networks from a "hold" rating to a "buy" rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $36.50.

Aviat Networks Stock Down 6.5%

AVNW traded down $1.66 during trading on Friday, hitting $23.91. 158,386 shares of the company's stock were exchanged, compared to its average volume of 117,343. The company has a quick ratio of 1.29, a current ratio of 1.64 and a debt-to-equity ratio of 0.26. The business's 50 day moving average is $22.79 and its two-hundred day moving average is $21.09. Aviat Networks, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $26.83. The stock has a market cap of $304.49 million, a P/E ratio of 298.91 and a beta of 1.59.

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, SVP Gary Croke sold 6,742 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $22.41, for a total transaction of $151,088.22. Following the transaction, the senior vice president owned 45,159 shares in the company, valued at approximately $1,012,013.19. This represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Erin Boase sold 5,634 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total transaction of $140,850.00. Following the completion of the sale, the vice president owned 22,290 shares of the company's stock, valued at approximately $557,250. This represents a 20.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,343 shares of company stock worth $406,913. Corporate insiders own 4.10% of the company's stock.

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.