Aviat Networks, Inc. (NASDAQ:AVNW) Shares Sold by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management Inc. reduced its stake in Aviat Networks by 19.5%, now holding 142,087 shares valued at approximately $2.77 million as per the latest SEC filing.
• Several institutional investors have recently made significant moves, with GAMMA Investing LLC increasing its stake by 36.9% in the same quarter.
• The stock of Aviat Networks is currently priced at $23.19, with a market cap of $295.32 million and a debt-to-equity ratio of 0.27.

Bastion Asset Management Inc. lowered its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 19.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 142,087 shares of the communications equipment provider's stock after selling 34,396 shares during the period. Bastion Asset Management Inc. owned approximately 1.12% of Aviat Networks worth $2,768,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Aviat Networks by 36.9% during the 1st quarter. GAMMA Investing LLC now owns 2,592 shares of the communications equipment provider's stock worth $50,000 after acquiring an additional 699 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Aviat Networks by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 173,940 shares of the communications equipment provider's stock valued at $3,150,000 after acquiring an additional 3,288 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Aviat Networks by 125.4% in the fourth quarter. Bank of America Corp DE now owns 35,072 shares of the communications equipment provider's stock valued at $635,000 after acquiring an additional 19,511 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Aviat Networks during the fourth quarter worth about $156,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Aviat Networks during the fourth quarter worth about $1,870,000. Hedge funds and other institutional investors own 78.62% of the company's stock.

Aviat Networks Price Performance

AVNW stock traded down $0.22 during trading on Wednesday, reaching $22.89. 21,886 shares of the company were exchanged, compared to its average volume of 128,239. Aviat Networks, Inc. has a 52-week low of $12.95 and a 52-week high of $31.74. The company has a market cap of $291.33 million, a P/E ratio of -114.43 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.62. The stock's 50 day moving average price is $22.94 and its 200 day moving average price is $20.75.

Insider Activity

In other Aviat Networks news, VP Erin Boase sold 5,634 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total value of $140,850.00. Following the sale, the vice president owned 22,290 shares of the company's stock, valued at $557,250. This represents a 20.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 10,601 shares of company stock valued at $255,825 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Aviat Networks Company 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.