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

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Aviat Networks by 36.9% in the first quarter. GAMMA Investing LLC now owns 2,592 shares of the communications equipment provider's stock worth $50,000 after buying an additional 699 shares in the last quarter. Comerica Bank raised its position in Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 780 shares in the last quarter. Northern Trust Corp raised its position in Aviat Networks by 1.3% during the fourth quarter. Northern Trust Corp now owns 101,091 shares of the communications equipment provider's stock valued at $1,831,000 after purchasing an additional 1,321 shares in the last quarter. Jane Street Group LLC raised its position in Aviat Networks by 6.9% during the first 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. Finally, AWM Investment Company Inc. raised its position in Aviat Networks by 1.8% during the fourth quarter. AWM Investment Company Inc. now owns 138,806 shares of the communications equipment provider's stock valued at $2,514,000 after purchasing an additional 2,418 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company's stock.

Insider Buying and Selling

In other news, SVP Gary Croke sold 6,742 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $22.41, for a total transaction of $151,088.22. Following the transaction, the senior vice president directly owned 45,159 shares of the company's stock, valued at $1,012,013.19. This represents a 12.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $140,850.00. Following the completion of the sale, the vice president owned 22,290 shares of the company's stock, valued at $557,250. This trade represents a 20.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,343 shares of company stock worth $406,913. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Aviat Networks Stock Up 1.3%

Shares of AVNW stock traded up $0.31 during midday trading on Wednesday, reaching $23.82. 27,080 shares of the stock were exchanged, compared to its average volume of 124,676. Aviat Networks, Inc. has a 1 year low of $12.95 and a 1 year high of $26.83. The company's 50 day moving average is $22.77 and its two-hundred day moving average is $21.13. The company has a current ratio of 1.64, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26. The firm has a market cap of $303.23 million, a PE ratio of 298.16 and a beta of 1.59.

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.