50,188 Shares in Viavi Solutions Inc. $VIAV Purchased by PVG Asset Management Corp

Key Points

• PVG Asset Management purchased 50,188 Viavi Solutions shares during the first quarter, worth approximately $1.67 million. Institutional investors and hedge funds collectively own 95.54% of the company.
• Viavi insiders have been selling shares: CEO Oleg Khaykin sold approximately $7.08 million worth, while insiders sold 442,114 shares valued at $23.34 million over the past 90 days.
• Analyst sentiment is generally positive, with six Buy ratings, two Holds and one Sell; the stock has a consensus rating of “Moderate Buy” and an average price target of $42.88.

PVG Asset Management Corp purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 50,188 shares of the communications equipment provider's stock, valued at approximately $1,670,000.

Other institutional investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in Viavi Solutions in the 4th quarter valued at $1,803,000. Phocas Financial Corp. purchased a new position in Viavi Solutions during the fourth quarter valued at $3,772,000. Jackson Creek Investment Advisors LLC purchased a new position in Viavi Solutions during the fourth quarter valued at $1,887,000. Tensor Edge Capital LLC acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at about $2,673,000. Finally, Intech Investment Management LLC grew its position in shares of Viavi Solutions by 29.1% in the fourth quarter. Intech Investment Management LLC now owns 109,258 shares of the communications equipment provider's stock valued at $1,947,000 after purchasing an additional 24,638 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 2,727 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $54.96, for a total value of $149,875.92. Following the transaction, the executive vice president directly owned 15,471 shares of the company's stock, valued at $850,286.16. This trade represents a 14.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Oleg Khaykin sold 136,547 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $51.82, for a total value of $7,075,865.54. Following the completion of the sale, the chief executive officer owned 1,188,798 shares of the company's stock, valued at $61,603,512.36. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 442,114 shares of company stock valued at $23,343,184. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on VIAV. Susquehanna upped their price target on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a "positive" rating in a research report on Wednesday, July 1st. UBS Group lifted their price objective on Viavi Solutions from $25.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 price objective on shares of Viavi Solutions in a report on Wednesday, June 10th. Wall Street Zen upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, B. Riley Financial increased their target price on Viavi Solutions from $26.00 to $53.00 and gave the company a "buy" rating in a report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.88.

Viavi Solutions Price Performance

Viavi Solutions stock opened at $36.95 on Monday. The company has a fifty day simple moving average of $45.33 and a 200-day simple moving average of $38.37. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of -153.95 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. Viavi Solutions Inc. has a 52-week low of $9.61 and a 52-week high of $60.43.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi's product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source