Aristides Capital LLC Decreases Holdings in Aviat Networks, Inc. $AVNW

Key Points

• Aristides Capital LLC reduced its stake in Aviat Networks by 35.0%, owning 100,135 shares valued at approximately $1.92 million as of its last SEC filing.
• Several other institutional investors also modified their holdings, with GAMMA Investing LLC increasing its stake by 36.9% and Comerica Bank by 40.2% during the same quarter.
• Aviat Networks shares have recently decreased by 2.2% and currently have a market cap of $288.96 million, with a price-to-earnings ratio of -113.45.

Aristides Capital LLC reduced its position in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 35.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,135 shares of the communications equipment provider's stock after selling 53,967 shares during the period. Aristides Capital LLC owned approximately 0.79% of Aviat Networks worth $1,920,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Royce & Associates LP lifted its holdings in shares of Aviat Networks by 5.5% in the 1st quarter. Royce & Associates LP now owns 680,459 shares of the communications equipment provider's stock worth $13,044,000 after purchasing an additional 35,580 shares in the last quarter. First Wilshire Securities Management Inc. lifted its stake in Aviat Networks by 5.3% during the 1st quarter. First Wilshire Securities Management Inc. now owns 435,031 shares of the communications equipment provider's stock valued at $8,340,000 after acquiring an additional 21,839 shares in the last quarter. Bastion Asset Management Inc. bought a new position in Aviat Networks during the 4th quarter valued at $3,077,000. Nuveen LLC bought a new position in Aviat Networks during the 1st quarter valued at $3,366,000. Finally, Pacific Ridge Capital Partners LLC bought a new position in Aviat Networks during the 1st quarter valued at $3,120,000. 78.62% of the stock is currently owned by institutional investors.

Aviat Networks Stock Down 1.2%

NASDAQ:AVNW traded down $0.29 during trading hours on Friday, hitting $22.96. 93,987 shares of the company traded hands, compared to its average volume of 99,596. The company has a quick ratio of 1.29, a current ratio of 1.62 and a debt-to-equity ratio of 0.27. The firm's 50-day simple moving average is $23.04 and its 200-day simple moving average is $21.03. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $27.94. The company has a market cap of $292.28 million, a PE ratio of -114.80 and a beta of 1.56.

Insiders Place Their Bets

In other Aviat Networks news, VP Erin Boase sold 5,634 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $25.00, for a total transaction of $140,850.00. Following the transaction, the vice president directly owned 22,290 shares in the company, valued at approximately $557,250. This trade represents a 20.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 10,601 shares of company stock worth $255,825. 4.10% of the stock is currently owned by company insiders.

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.