Connor Clark & Lunn Investment Management Ltd. Boosts Position in Aviat Networks, Inc. $AVNW

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Aviat Networks by 148%, acquiring an additional 69,521 shares in the first quarter, bringing its total ownership to 116,485 shares valued at approximately $2.23 million.
• Several other institutional investors, including GAMMA Investing LLC and US Bancorp DE, have also recently increased their positions or initiated new stakes in Aviat Networks, contributing to institutional ownership of 78.62% of the stock.
• Aviat Networks' stock is currently trading down 3.3%, with a recent price of $22.08 and significant movements noted in its insider trading, including a sale by VP Erin Boase of 5,634 shares.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 148.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,485 shares of the communications equipment provider's stock after purchasing an additional 69,521 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.92% of Aviat Networks worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVNW. GAMMA Investing LLC lifted its holdings in shares of Aviat Networks by 36.9% during the first quarter. GAMMA Investing LLC now owns 2,592 shares of the communications equipment provider's stock valued at $50,000 after purchasing an additional 699 shares in the last quarter. US Bancorp DE bought a new position in shares of Aviat Networks during the first quarter valued at $82,000. Aquatic Capital Management LLC bought a new position in shares of Aviat Networks during the fourth quarter valued at $106,000. Graham Capital Management L.P. bought a new position in shares of Aviat Networks during the fourth quarter valued at $214,000. Finally, Walleye Capital LLC bought a new position in shares of Aviat Networks during the fourth quarter valued at $248,000. 78.62% of the stock is owned by institutional investors.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW traded up $0.3440 during midday trading on Tuesday, reaching $22.1940. 6,993 shares of the company's stock traded hands, compared to its average volume of 124,250. The company has a market cap of $282.53 million, a price-to-earnings ratio of -110.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.62. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $28.37. The stock has a 50 day moving average of $23.03 and a 200 day moving average of $21.03.

Insider Buying and Selling

In related news, VP Erin Boase sold 5,634 shares of the company'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 completion of the sale, the vice president owned 22,290 shares in the company, valued at approximately $557,250. This represents a 20.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 10,601 shares of company stock worth $255,825 in the last three months. 4.10% of the stock is currently 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.