Hodges Capital Management Inc. Sells 155,849 Shares of Aviat Networks, Inc. $AVNW

Key Points

• Hodges Capital Management Inc. reduced its holdings in Aviat Networks, Inc. by 27.7%, selling 155,849 shares and retaining 406,861 shares valued at approximately $7,800,000.
• Multiple institutional investors, including Jacobs Levy Equity Management and Nuveen LLC, have purchased new stakes in Aviat Networks, demonstrating a strong interest in the stock.
• Insider trading activity included VP Erin Boase and SVP Gary Croke selling shares, indicating a decrease in their ownership and potential concerns among company executives.

Hodges Capital Management Inc. trimmed its holdings in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,861 shares of the communications equipment provider's stock after selling 155,849 shares during the quarter. Hodges Capital Management Inc. owned about 3.21% of Aviat Networks worth $7,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Jane Street Group LLC increased its stake in Aviat Networks by 6.9% during the 1st quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider's stock valued at $500,000 after purchasing an additional 1,683 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Aviat Networks during the 1st quarter valued at about $632,000. Jacobs Levy Equity Management Inc. bought a new stake in Aviat Networks during the 1st quarter valued at about $3,783,000. AQR Capital Management LLC increased its stake in Aviat Networks by 20.6% during the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider's stock valued at $1,629,000 after purchasing an additional 14,498 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Aviat Networks by 18.5% during the 1st quarter. Ancora Advisors LLC now owns 97,005 shares of the communications equipment provider's stock valued at $1,860,000 after purchasing an additional 15,178 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Aviat Networks Stock Performance

NASDAQ AVNW traded down $1.66 on Friday, reaching $23.91. 158,386 shares of the stock were exchanged, compared to its average volume of 118,012. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $26.83. The firm has a market capitalization of $304.37 million, a PE ratio of 298.91 and a beta of 1.59. The company's 50-day simple moving average is $22.79 and its two-hundred day simple moving average is $21.09. The company has a current ratio of 1.64, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other Aviat Networks news, SVP Gary Croke sold 6,742 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president owned 45,159 shares in the company, valued at approximately $1,012,013.19. This trade represents a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Erin Boase sold 5,634 shares of Aviat Networks stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total transaction of $140,850.00. Following the sale, the vice president owned 22,290 shares in the company, valued at approximately $557,250. The trade was 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. 4.10% of the stock is owned by company 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.